Honda announces £267 Million Investment Programme in Swindon plant
5th September 2012
Honda today marks the launch of the new CR-V model as part of a £267 million investment programme into new models and engines at its Swindon, UK plant. This is the single biggest investment into Honda‘s UK manufacturing base in over a decade.
With the investment supporting the introduction of:
• New Civic (Dec 2011)
• New CR-V (Sept 2012)
• New 1.6 litre diesel engine for Honda Civic (Dec 2012)
500 new staff -or Associates as they are known- have been recruited and trained this year to build these new products, taking the total workforce to 3,500.
By the end of the year, production at the Swindon plant is forecast to have doubled on last year’s figure, up to 183,000 units. Honda aims to increase that figure to 250,000 units per year, within 3 years .
This announcement is also good news for the UK balance of trade with 60 per cent of the production going for export. Honda’s Swindon plant produces cars and engines for over 60 countries around the world, including Europe, Middle East, Africa and Australia.
Business Secretary, Vince Cable, who will be visiting the Honda site today, has commented, ‘this multi-million pound investment by Honda in its twentieth year of car production in the UK is great news for Swindon and the automotive sector. Having created a host of new jobs, the investment supports Government’s ambition to encourage new investment and exports as a route to renewed growth and a more balanced economy.‘