Vince Cable and MIA welcome Honda European and F1 racing investment in Motorsport Valley UK
23 Jul 2013
Business Secretary, Vince Cable and the Motorsport Industry Association (MIA) has welcomed the news that, from June 2014, Honda will base its European racing operation in Milton Keynes, as it prepares for its participation in Formula One (F1), with McLaren, in 2015.
The new facility, within the new R&D centre of Mugen Euro, will be the European frontline operation for Honda’s F1 participation, and World Touring Car Championship (WTCC), where it will rebuild and maintain the power units being developed at Honda R&D centre in Tochigi, Japan, and also base its trackside support operations.
Secretary of State for Business, Rt. Hon. Vince Cable said: “We very much welcome Honda's announcement, which follows hard on the heels of the launch of the automotive industrial strategy. The strategy underlines the Government's commitment to work with world-class companies and organisations, including those in motorsport. The decision by Honda emphasises the importance of the UK's Motorsport Valley as a world renowned centre of excellence for technological innovation and product development."
Chris Aylett, CEO of the MIA said: “This is marvellous news for the UK motorsport industry, which could not have come at a more appropriate time, following so closely the launch of the UK Automotive Strategy and the announcement of plans for joint Government and industry investment of £1 billion in an Advanced Propulsion Centre by Business Secretary Vince Cable at Goodwood, last week. This decision by Honda to invest in the heartland of the UK Motorsport Valley community is extremely significant. It is a strong vote of confidence from this much respected leader in the global motorsport community for the strength of the UK supply chain in motorsport engineering."
“The move will see UK engineers employed, investment in premises and operations and valuable new business growth for UK suppliers. The UK automotive strategy, created from input from MIA members and the wider industry, is on the right path and is sure to attract more investment and jobs to the UK in ‘advanced propulsion’ activity.”