A leading business figure in Coventry and Warwickshire believes that the new British advanced industry plan and battery strategy will have significant benefits in strengthening the region’s international position and improving skills.
The advanced industry plan has committed to £4.5 billion in funding, including £2 billion for the automotive sector, to build and strengthen industry in the UK.
Benefits include funding for the West Midlands Combined Authority investment zone, including the Coventry & Warwick Gigapark, which will receive additional funding on top of the initial £160 million financing package.
There will also be funds for research and design to improve financing access for the electric vehicle supply chain, and £975 million is planned for the aviation sector by 2030, which could help members of the Coventry and Warwickshire Aviation Forum.
The British battery strategy includes the Faraday Challenge and the UK Battery Industrialisation Centre (UKBIC) headquartered in Coventry, as well as the Advanced Propulsion Centre and WMG Energy Innovation Centre, which drive key innovations in the battery sector.
Echion Technologies and Warwick Manufacturing Group have received two grants under the Dancer project, while Eatron Technologies from Warwick and Hy-Met from Solihull have also received funding.
All this information was published in the latest SmartRegion report, which presents research findings and activities reported by the Coventry and Warwickshire Growth Hub, Coventry City Council, Warwickshire County Council, and other local and national business support organizations.
Craig Humphrey, Managing Director of the Coventry and Warwickshire Growth Hub, believes that these plans represent an excellent opportunity for Coventry and Warwickshire to strengthen their position as a global leader in the industry and battery sectors.
“The government’s ambitions under the advanced industry plan are for the UK to be the best place in the world to start and grow businesses in the industrial sector,” he said.
“Benefits for our region are already emerging from the expansion of the Made Smarter program, which aims to improve digital skills and access to technology in the manufacturing and engineering industries, which is highly welcomed.
“However, it is important that we see additional public and private investments that will accelerate growth and modernization of relevant automotive and manufacturing supply chains in the region.
“UKBIC has provided platforms for creating highly specialized jobs and attracting investments since the government’s selection in 2019 to develop the latest car battery technologies.
“This collaborative approach between industry and the academic environment in research and development is crucial for the UK to create an international battery supply chain that supports the economy and strives for climate neutrality.
“£38 million for the UKBIC upgrade will include a second electrode line, an additional 800 sqm of flexible space for industry, and the introduction of advanced digital production. £12 million has been awarded to WMG at the University of Warwick and CPI at NETPark in County Durham to fund the new Advanced Battery Material Industrialisation Centre.
“All of these are fantastic news that will further elevate the skills of the workforce and boost the regional economy, as well as drive greater innovation.”
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