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Friday, 10 June 2011

Mini investment drives revival in carmaking

Financial Times
June 8, 2011

BMW has said the UK will remain the “heart” of its burgeoning Mini luxury small-car brand in a morale boosting decision for the government as it seeks ways to drive manufacturing growth.

The industry’s largest premium carmaker said on Thursday that it would invest another £500m in its UK operation over the next three years, mostly to build the next generation of Mini cars at its plant in Oxford.

The decision will bring BMW’s investment in the UK, its biggest production centre in Europe after Germany, to £1.5bn. The Munich-based producer said the move would safeguard more than 5,000 jobs in Oxford and at its pressings plant in Swindon and engine plant at Hams Hall in Warwickshire.

BMW said it had received no financial incentive from the government for its investment.

“This underlines again that the UK will remain the heart of Mini production,” said Norbert Reithofer, BMW’s chief executive, after meeting David Cameron, prime minister.
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