Bentley gets $4.8 billion UK government grant to increase R&D
The UK’s Department for Business Regional Growth Fund has approved Bentley Motors for a grant for approximately $4.8 billion. According to Bentley, the grant will “support the development of a new powertrain application which will enable Bentley to exploit new export markets.” In addition, “It will safeguard over 200 jobs and also create a small number of additional positions within the Company’s 900-strong engineering department.”
“This is a real boost for Bentley which has one of the most highly skilled automotive workforces in the country and, uniquely, has now been awarded two RGF grants,” said CEO Wolfganag Durheimer. “It shows that the Government recognises the importance of Bentley and the contribution we make to high value manufacturing and UK exports.”
This grant follows one previously issued for $2.7 billion that went towards an expansion in training and jobs at brand’s business, manufacturing and development location.
“Our customers expect the very best in terms of exclusivity, technology, quality, and engineering excellence which requires significant ongoing investment in R&D,” Durheimer said. “This grant will help safeguard those operations as we look to develop new powertrains which appeal to new markets and new customers.”
– By: Alexandra Koken