Ford to expand work on electric vehicles in Essex after getting government loan
It will invest some of the money into its Dunton Technical Centre near Basildon
Car giant Ford will expand its work on electric vehicles in Essex and Merseyside after receiving a £600 million Government-based loan.
UK Export Finance said this will support thousands of jobs and help the manufacturer increase its electric vehicle range from two models to nine.
Ford will boost the capacity of its plant at Halewood on Merseyside from 250,000 electric powertrain units per year to 420,000.
The loan will also help protect Ford's ability to deliver engineering services in Dunton, Essex.
UK Export Finance is a Government-linked body which helps promote the UK's export industry abroad.
International Trade Secretary Kemi Badenoch said: "Our support for Ford is great news for jobs in Essex and Merseyside, and British manufacturing as a whole.
"Ford is a major employer in the UK and the high-skilled jobs it provides help communities to thrive.
"We have consistently backed Ford as it makes its critical transition towards electrification.
"Boosting electric car production is key to our strategy to combat climate change and today's news demonstrates how our manufacturing industry, our exports and our economy will benefit from this transition."