A £20 million fund to help automotive supply chain businesses develop their workforce skills to maximise growth opportunities has been announced by the government.
Automotive component manufacturers and companies providing manufacturing services can apply for up to 50% co-funding for training. The aim is to help UK-based suppliers take advantage of the £3 billion worth of opportunities identified by the Automotive Council in a recent survey of the sector.
Skills and enterprise minister Matthew Hancock said: "Our goal is to bring employment and education closer together, to deliver the skills employers need. This straight forward, flexible employer ownership fund will allow employers in the supply chain to develop their skills so they can take advantage of significant growth opportunities in the sector.
"By having a highly skilled workforce, companies will be able to grow and meet the imminent and longer-term needs of automotive manufacturing companies."
Mike Hawes, SMMT chief executive welcomed the move. He said: "Investing in skills is fundamental to the future growth of the UK automotive sector. This £20m fund to help supply chain businesses develop their workforce is a very welcome initiative which we hope will encourage further investment in training.
"There is a range of opportunities for UK suppliers as domestic vehicle manufacturers look to increase local content. We would encourage every automotive component manufacturer, or manufacturing service provider, to consider how they could utilise this Fund to improve skill levels still further."
The first round of projects can be submitted by businesses from 6 May via the .GOV website.
SMMT will be hosting a webinar to promote the supply chain skills fund on 14 May at 11.00am. See https://www2.gotomeeting.com/register/661767634