UK Secures Auto Future with $1 Billion Ford Boost

The UK government is backing Ford's UK division with a staggering £1 billion export development guarantee. This move is designed to fuel the carmaker's long-term global growth objectives, reinforcing Britain's position in the automotive industry.

Rachel Reeves, the finance minister, highlighted the initiative's significance in a statement by UK Export Finance (UKEF). She described the guarantee as a 'major boost' for Britain's auto sector, emphasizing its role in developing world-class products and opening new export markets.

The investment aims to secure jobs and strengthen the UK's automotive sector, further establishing it as a leader in international markets and innovation.

(With inputs from agencies.)