West Midlands carmakers boosted by £100m of Chinese investment
CAR manufacturers Aston Martin and Geely have both unveiled £50m investment deals with Chinese backers to develop low carbon vehicles.
Gaydon-based Aston Martin has agreed a £50m deal with China Equity to develop its zero-emission RapidE sports car while Coventry-based London Taxi Company owner Geely also announced an additional £50m investment to enhance its research capabilities and launch a new fleet of zero-emission-capable black cabs.
The announcements were part of a £325m suite of creative and technology partnerships between the UK and China announced today.
These partnerships, encompassing film, TV, music and advanced engineering, will develop innovative new technologies in cutting-edge facilities in both the UK and China.
Business secretary – and Bromsgrove MP – Sajid Javid said: “Global partnerships are essential in building a Britain that is stronger, more prosperous and full of opportunity. Deals like those announced today will ensure our economy remains resilient and our businesses feel well-equipped to face the future.
“This is a perfect example of how UK-China collaboration not only promotes investment but also makes a difference to the lives of ordinary people. It is another reason why China remains one of our most important international partners.”
Meanwhile, Merlin Entertainments – which owns Alton Towers and the National Sea Life Centre in Birmingham amongst other local attractions – has announced plans for a joint venture with China Media Capital to enable further expansion of its attraction brands in China, including opportunities for a new full-scale Legoland Park in Shanghai.
