Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

BMW to boost production in Britain

LONDON, Sept 3 – German automaker BMW plans to build new models of the iconic Mini in Britain, in a major boost for the country\’s ailing car making industry, the British government said.

Business Secretary Lord Mandelson said late Wednesday that the two new models would be built at the company\’s plant in Cowley, near Oxford and London.

"The production of two new Minis is very good news for Oxford, and for the UK car industry. It is a demonstration of BMW\’s long-term commitment to the UK as it celebrates its 50th birthday this year," Mandelson said.

"British drivers have had a long love affair with the Mini and I\’m sure that this will continue for many years to come."

The new models will be unveiled at the Frankfurt motor show on September 15.

BMW\’s chief executive Norbert Reithofer confirmed the plans to the Financial Times, adding that new jobs and investment would be created at the Cowley plant, although he did not give details.

"I am pleased to announce the Mini Coupe concept car and another new mini model will both be built at Oxford," he told the FT newspaper Thursday.

BMW said in February it was shedding 850 workers, who help to make the Mini at the plant, one of Britain\’s largest car factories, as the economic crisis hit demand for the car.

Most of those workers have now been rehired thanks to an increasing global demand for smaller cars, according to reports.

Advertisement. Scroll to continue reading.

Britain\’s auto industry has been hit hard as demand for new cars slumped in the wake of the global economic slowdown.

British car output fell 17.9 percent in July from a year earlier, but the pace of decline has eased due to the government\’s scrappage scheme, according to the Society of Motor Manufacturers and Traders.
 

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...