A round up of latest local news-in-brief...
West Midlands to become leader in creative innovation thanks to £6.75m funding
The Royal Shakespeare Company (The RSC) has joined forces with four West Midlands universities on a £6.75 million project to support the growth of sectors such as gaming and creative content across the region. The CreaTech Frontiers collaboration, which includes Birmingham City University (BCU), Coventry University, the University of Birmingham, and The University of Warwick, will involve high-profile industry partners such as Vodafone, Digital Catapult, multi-media studios Rebellion and Holosphere and Hollywood Gaming.
https://thebusinessmagazine.co.uk/technology-innovation/west-midlands-to-become-leader-in-creative-innovation-thanks-to-6-75-million-funding/
Century-old Warwickshire engineering company ensures legacy with apprentices
Warwickshire-based Kigass, which was established more than 100 years ago, is investing in young engineers of tomorrow. With long-standing clients such as the Ministry of Defence, Rolls Royce and F1 on its books, the company is ensuring its experienced engineers are supporting the next generation.
https://thebusinessmagazine.co.uk/recruitment-careers-hr/century-old-warwickshire-engineering-company-ensures-legacy-with-apprentices/
Abu Dhabi CYVN joins Saudi PIF in investing in Warwickshire Automotive
CYVN Holdings can be talked about in the same breath as Tata Motors, BMW and the Volkswagen Group when listing foreign firms that are investing in blue-chip British automotive brands, following its purchase of McLaren Automotive. CYVN is following a path trodden by what could be seen as its main regional rival, Saudi Arabia’s PIF (Public Investment Fund), another equity fund investing oil wealth. PIF also owns a fifth of Aston Martin and a stake in Rimac’s new robotaxi operation Verne, whose vehicle development is anchored out of University of Warwick Wellesbourne Campus.
https://www.autocar.co.uk/car-news/business-corporate/who-mclaren-automotives-new-owner-cyvn
The car after the storm – Jaguar unveils new concept EV
Jaguar has followed up its much-discussed rebrand by unveiling its Type 00 concept car, describing it as “unmistakable, unexpected and dramatic.” Launched earlier this month at Miami Art Week, it was shown in two colours – Miami Pink which references the Art Deco surroundings of its reveal, and London Blue, described as a nod to Jaguar’s British heritage.
https://www.designweek.co.uk/the-car-after-the-storm-jaguar-unveils-new-concept-ev/
Waymo Expanding Autonomous Jaguar i-Pace Ride-Hailing to Miami by 2026
Waymo's all-electric Jaguar I-PACE fleet aims to hit Miami streets in 2025, offering public autonomous ride-hailing services by 2026. Alphabet's self-driving unit, Waymo, is launching its autonomous ride-hailing service in Miami, marking a significant milestone in the evolution of self-driving technology.
https://evmagazine.com/self-drive/waymo-expands-autonomous-ride-hailing-to-miami-by-2026
Leamington-based OX Delivers unveils milestone franchise agreement
OX Delivers, the e-mobility firm dedicated to revolutionising b2b goods transport across the Global South, has announced a US$163 million deal to create its first franchise partner which will serve five countries in East Africa. The multi-year contract includes the delivery of a fleet of the firm's all-electric trucks along with a subscription to both its tech platform and vehicle maintenance services.
https://thebusinessmagazine.co.uk/companies/warwickshire-based-ox-delivers-unveils-milestone-franchise-agreement/
Nimble Electric Trucks From Leamington Are Supercharging African Trade
In Rwanda, farmers often watch their harvest spoil before it can reach the market. A fleet of simple, efficient trucks is changing that.
https://reasonstobecheerful.world/nimble-electric-trucks-are-supercharging-african-trade/
Ansty Taxi Co Parent Geely launches Ford E-Transit Custom rival in the UK
Geely’s commercial vehicles arm, Farizon, will soon enter the UK market with a rival for the Ford E-Transit Custom and the Vauxhall Vivaro Electric. Named the Farizon SV (Supervan), it is based on an architecture designed specifically for electric vehicles, with batteries mounted under the floor of the cargo bay.
https://www.autocar.co.uk/car-news/new-cars/geely-launches-ford-e-transit-custom-rival-uk
£850k Aston Martin Valhalla to land in summer with 1079bhp
Aston Martin's long-awaited Valhalla supercar will enter production in just a few months - with a hefty power advantage over its main rivals. The firm has released full production specifications for its new mid-engined plug-in hybrid ahead of customer deliveries beginning in the second half of 2025, revealing that it has more power than first promised and the highest torque figure of any Aston Martin model yet.
https://www.autocar.co.uk/car-news/new-cars/official-%C2%A3850k-aston-martin-valhalla-land-summer-1079bhp
Callum Skye EV edges closer to production as interior unveiled
Former Jaguar design boss Ian Callum's car company, the Warwick-based Callum, has unveiled the interior of its debut model, the Skye, edging it closer to production. It has been designed to help the electric sports car to hit a target weight of just 1150kg, which would make the Skye one of the lightest EVs on the market.
https://www.autocar.co.uk/car-news/new-cars/callum-skye-ev-edges-closer-production-interior-unveiled
Sertec Group unveils new £7m investment in engineering HQ
Sertec Group, a global components manufacturer specialising in automotive Body in White and EV products, has announced a £7 million investment. The investment includes a new 800T machine press at its Coleshill site to boost production capabilities. The unveiling took place during a special ceremony at Sertec's Gorsey Lane production facility, officiated by Professor Carl Chinn, MBE. In order to commemorate the occasion, the first pressed part from the machine was presented to the Birmingham social historian and writer.
https://thebusinessmagazine.co.uk/manufacturing-engineering/sertec-group-unveils-new-7m-investment-in-engineering-hq/
Octopus boosts Coventry investment with Two Friargate expansion
Octopus Energy, the UK’s largest electricity supplier, which includes the former First Utility, Shell Energy and Co-op Energy businesses, has expanded its presence in Coventry by taking additional office space in Two Friargate in the city centre. The deal with Coventry City Council will see Octopus occupy 55,000 sq ft of Grade A office space. It represents one of the most significant recent commercial deals in the Midlands. The initial deal enabled 150 staff members to transfer to Two Friargate from the company’s Leamington offices.
https://thebusinessmagazine.co.uk/property/octopus-boosts-coventry-investment-with-two-friargate-expansion/
Warwickshire's Pashley Cycles Defines Micromobility with London Landmark Scheme
Stratford-upon-Avon based Pashley Cycles has showcased its smart bike share solution at London’s The Green Quarter. The 100-year-old British bike brand, synonymous with great British design, manufacturing and ingenuity, showcases its smart bike share solution at London’s The Green Quarter. The Green Quarter is an 88-acre parkland and canalside residential development in Southall. The bike share scheme is exclusively for residents and its says it is the first of its kind in the UK.
https://thebusinessmagazine.co.uk/lifestyle/warwickshires-pashley-cycles-defines-micromobility-with-london-landmark-scheme/
Popular bakery chain Gail's to open store in Leamington Spa
Posh bakery chain Gail's is officially opening a new store in Leamington Spa. The chain will be opening at 91 Regent Street in January 2025.
https://www.coventrytelegraph.net/news/coventry-news/popular-bakery-chain-gails-open-30529887
Jo Malone opening in Leamington after Wareing & Company agrees deal
Luxury perfume brand Jo Malone London is set to open in the centre of Leamington in time for Christmas after Wareing & Company secured the move. The new store will be opening at 67 Parade on Friday December 13th.
https://www.wareingandcompany.co.uk/jo-malone-opening-in-leamington-after-wareing-company-agrees-deal/
Go-ahead set for Major Big Shed Campus Development at Ansty
Retail giant Frasers Group, the company behind Sports Direct and House of Fraser, could soon receive the go-ahead for its plans to develop a global headquarters campus in the West Midlands in a move forecast to create thousands of jobs.
https://www.insidermedia.com/news/midlands/go-ahead-set-for-frasers-groups-plans-to-create-global-headquarters-in-the-west-midlands-landmark-scheme-would-create-thousands-of-jobs
Software firm takes further space at Tachbrook Park
A software firm has secured additional space at Warwickshire's Tachbrook Park following a deal brokered by commercial property agent Bromwich Hardy. Widgit Software was based on the first floor of Bishop's House, on the 132-acre Tachbrook Park, but has now expanded to take on the whole of the ground floor as well.
https://www.insidermedia.com/news/midlands/software-firm-takes-further-space-at-tachbrook-park
Morrisons customer fulfilment to focus on Ocado’s Dordon Facility
Ocado Group provides technology to both Morrisons and Ocado Retail Ltd, and the retailers currently share fulfilment capacity at two CFCs at Dordon in Warwickshire and Erith in London.
Following recent discussions, Morrisons is set to gradually cease deliveries from Ocado's Erith CFC in order to continue building further volumes from Ocado's Dordon CFC, Morrisons will also expand its store network where online orders are fulfilled using Ocado's AI-powered In-Store Fulfilment technology.
https://www.insidermedia.com/news/midlands/green-light-for-nuneaton-industrial-and-logistics-warehouse-will-create-almost-250-jobs
Midlands Engine Investment Fund II commits more than £17m since launch
The British Business Bank's Midlands Engine Investment Fund II has committed more than £17m in the region in its first nine months, new figures have confirmed, leveraging a further £10m from the private sector. A total of 70 businesses have received support through the Midlands Engine Investment Fund II since its launch in February 2024. The £400m programme covers the whole of the Midlands and provides debt finance from £25,000 to £2m and equity investment up to £5m to help small and medium sized businesses.
https://www.insidermedia.com/news/midlands/midlands-engine-investment-fund-ii-commits-more-than-17m-since-launch
Firms backed by the Start Up Loans programme have higher survival rates - independent evaluation
Smaller businesses backed by the government's Start Up Loans programme have higher survival rates than other businesses, according to an independent evaluation. The evaluation measures the impact of loans drawn down by two cohorts of smaller businesses who took out loans in the financial years 2018/19 and 2021/22.
https://www.insidermedia.com/news/national/firms-backed-by-the-start-up-loans-programme-have-higher-survival-rate-independent-evaluation
Midlands’ drive to create £1.5bn FinTech economy boosted by new lab
The Midlands’ fast-growing FinTech sector is getting a major boost with a new lab to carry out research and create advanced skills, helping the region become a global FinTech hotspot. It is predicted that FinTech will add £1.5bn and 4,600 jobs to the regional economy over the next decade. The FinTech Innovation Lab has launched at the Gillmore Centre for Financial Technology, at Warwick Business School. It is being backed by multimillion-pound donations and is set to take on scores of students.
https://www.insidermedia.com/news/midlands/midlands-drive-to-create-1.5bn-fintech-economy-boosted-by-new-lab
UK manufacturing confidence slumps after Budget
Manufacturers’ confidence in the UK economy fell after the Budget at the sharpest rate since the start of the Covid-19 pandemic, in another setback for the chancellor. Confidence fell to 5.8 in the final quarter from 6.8, the largest quarter-on-quarter drop since the spring of 2020, according to a survey by trade group Make UK and business advisory firm BDO.
https://www.ft.com/content/b04024bd-57ff-45cd-8afe-75b6f1a8828d