Over in the UK, Bentley has announced that it has received confirmation of a conditional grant allocation of £3 million from the UK’s Department for Business Regional Growth Fund (RGF).
It’s the second time this year Bentley has been successful with the UK government’s RGF, having received £1.68m in the first round to create additional manufacturing jobs and training. The new grant funding will help support the development of a new powertrain application, which will enable Bentley to exploit new export markets and safeguard over 200 jobs as well as create a small number of additional positions within the company’s 900-strong engineering department.
The company, which exports over 80% of its production says that, despite the economic uncertainties, recent investment in new models is already paying dividends as growth continues in all major markets, with China continuing to break records. By the end of September, its sales in China had exceeded 1,000 units for the first time as the country cements its position as the second biggest global market for the brand, growing at a rate of over 80% a year.
Customers in emerging markets are increasingly showing interest in the new two-door Continental GT and GTC, delivering significant sales growth, but for that to continue – and the long term future of the company be assured – the company says it has to look at new powertrains which anticipate changing demand. The grant should help take care of that.
Looking to sell your car? Sell it with Carro.
Tongkat oh tongkat…
Its pretty amazing that Bentley, owned by cash rich Volkswagen, can manage to secure UK Government funding and grants whilst Lotus Group were denied access to such funds, and that application was based on creating over 600 new jobs I believe. The regional growth fund appears to be aimed at areas where unemployment is on the increase.
Just read the news that Lotus has been granted £10 million of cash injection from the RGF by the UK gomen. This is a reduced figure from the original application of £27.5 million, and this certainly is considered good enough. Now, It remains to be seen how Lotus will make use of all the available resources to produce world beating cars, Lotus Esprit then Lotus Elan….
Thanks for the heads up! That is good news indeed for Lotus. I wonder if Tony Fernandes is applying for such a grant for Caterham Cars?