BMW in talks with UK government over £75m grant - report
By Abigail Townsend
Date: Monday 06 Feb 2023
(Sharecast News) - Germany's BMW is reportedly in talks with the British government about a £75m grant, which would secure production of electric Minis in the UK.
According to Sky News, BMW and officials from the Department for Business, Energy and Industrial Strategy are discussing a possible from grant from the government's Automotive Transformation Fund.
The funding package would be worth up to £75m and could be finalised in coming weeks, Sky noted.
BMW declined to comment on the report, while the government did not confirm any potential talks. A BEIS spokesperson told Sky: "The UK is one of the best locations in the world for automotive manufacturing.
"Investment trough the Automotive Transformation Fund will develop a high-value end to end electrified automotive supply chain in the UK."
A deal would likely be welcomed by the British car industry, which last year reported a slump in the number of vehicles made in the UK. Production fell nearly 10% to 775,014, the lowest since 1956.
Around 200,000 Minis are built annually at BMW's plant at Cowley in Oxfordshire, which employs around 4,000 people. The majority of cars made at Cowley are sold overseas.
In 2021, BMW said it would cease making the electric Mini at the plant, however.
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