Joe Greenwell to lead Automotive Investment Organisation, which will receive up to £3m of funding over next two years
The former chairman of Ford in Britain has been appointed by the government to lead a campaign to attract overseas investment into the UK automotive industry.
Joe Greenwell, who retired from Ford in April with more than 40 years experience in the industry, will be chief executive of the Automotive Investment Organisation, which will receive up to £3m of funding over the next two years, after being launched by business secretary Vince Cable.
It will be led by UK Trade and Investment and take strategic direction from the Automotive Council – a joint initiative between government and industry.
Greenwell said he understood "the challenges of maintaining the levels of success we've seen recently in the auto sector", which is growing in Britain despite the weak consumer and economic backdrop in Europe.
The government has held up the car industry as a poster child for British manufacturing, emphasising the investment it has received from companies in recent years, and its role in the drive to increase UK exports.
It has also highlighted a report by the council which claims there is an additional £3bn of untapped new business which could be won by UK suppliers and overseas companies seeking to set up or expand manufacturing facilities here.
Cable said: "On average only a third of the parts that go into cars manufactured here are sourced from the UK. We know that global manufacturers in the UK want to buy more from the UK.
"Joe Greenwell will help to build on the success of the unprecedented investment we have seen in the UK automotive sector and encourage a more extensive supply chain." Angela Monaghan