Region leading location for future mobility technologies

Warwickshire has been recognised as a nationally significant location for future mobility technologies as part of a major initiative by the Department for International Trade (DIT) to boost Foreign Direct Investment (FDI) in the UK.

The West Midlands region has won two major project bids within the second round of the UK Government’s High Potential Opportunities (HPO) programme – an initiative designed to promote high-level industry opportunities to foreign investors and drive overseas investment into the UK’s regions and nations.

Warwickshire, with Coventry, is among the leading regional locations chosen as a centre of excellence in Connected and Autonomous Vehicle (CAV) Modelling and Simulation. Birmingham and Solihull have been selected as the UK’s top destination for opportunities in Data Driven Healthcare & Technologies.

Cllr Heather Timms, portfolio holder for environment at Warwickshire County Council, said: “The Warwickshire and Coventry area is a global force in future mobility, including low carbon propulsion and autonomous technologies. This support from the Department for International Trade will help us to promote our internationally significant strengths and identify supply chain gaps and opportunities for new investment and jobs.

“It adds to the work that Warwickshire County Council and its local authority partners are doing to support the economy in Coventry & Warwickshire to create new opportunities for the economy in future green and sustainable technologies in line with the council’s commitment to addressing climate change.”

DIT will continue to co-ordinate the HPO programme, helping to promote the Warwickshire and Coventry R&D eco-system and the business opportunities here with its global network as part of its engagement strategy with international investors.

Minister for Investment, Gerry Grimstone, added: “The UK has so much to offer international investors across a variety of key sectors and regions. Our HPO programme looks at some of the sectors and sites across the UK where we see some of the world’s greatest challenges being solved.

“Inward investment will help the UK build back better while levelling up all parts of the UK. This is just the start of the steps we are taking to increase inward investment and drive economic recovery.”

Coventry & Warwickshire is an attractive location for inward investment, and as part of the West Midlands has performed consistently strongly in attracting FDI, with 2020 marking the fifth year in a row that the region has ranked as the UK’s leading location for securing overseas investment outside of London and the South East.

Recent FDI investors here have included Hello Fresh, Lotus Cars and IPG Photonics – the world’s leading manufacturer of high-performance lasers