Government backs INEOS investment

The UK Government has welcomed news that INEOS Automotive will produce up to 25,000 of its new Grenadier SUV vehicles per year in Wales.

The investment is initially expected to create around 200 jobs, rising to around 500 in the long term.

Secretary of State for Wales Alun Cairns said, ‘INNEOS’ investment will provide a welcome boost to our automotive sector and to this part of Wales, creating important jobs which will contribute to a strengthened economy. It is also a clear demonstration of confidence in the UK economy.

‘We’ve been working closely with the company to bring this investment to Wales and are supporting the industry via our Industrial Strategy and Automotive Sector Deal, setting out our vision of how government and industry can work together to solve some of the greatest challenges affecting this sector.

‘There have been some significant automotive investments to Wales over the last few years, including at Aston Martin in St Athan and together with the Welsh Government we will continue to provide incentives for firms like INEOS to make Wales their home.’

Business Secretary Andrea Leadsom added, ‘INEOS’s investment in Bridgend is a vote of confidence in the area’s highly skilled and talented workforce, and in the strength of our automotive industry.

‘It is also further evidence that the UK is the best place to develop the latest automotive technologies. That is why the UK Government is investing nearly £1.5bn through our modern Industrial Strategy to ensure our world-leading status is maintained.’