Two Midland car-makers have secured Chinese investment as part of a series of business announcements during the state visit by China’s president to London.
The luxury carmaker, which recently announced job losses, is planning to expand both its model line-up and use new technologies as part of a strategy to boost volumes and return to profitability.
Elsewhere, Chinese carmaker Geely, which owns the London Taxi Company, will also invest a further £50 million to enhance its research capabilities and launch a new fleet of zero-emission-capable black cabs.
The deals were announced on the second day of China’s president Xi Jinping’s stay as Britain seeks to clinch contracts worth almost £30 billion.
GRAEME BROWN: Northern Powerhouse fixation makes George Osborne just one more problem for West Midlands
The Post revealed earlier this week that Chancellor George Osborne personally intervened to prevent the Chinese President coming to Birmingham during the high-profile visit.
Instead, George Osborne insisted he went to Manchester, the heart of his pet so-called “Northern Powerhouse” project.