Van, truck and bus industry boosted by £1.1bn investment
More than a billion pounds has been invested in Britain’s van, truck and bus industry over the past five years.
This is according to new analysis by the Society of Motor Manufacturers and Traders (SMMT).
It said the £1.1bn committed since 2021 builds on the UK’s diverse commercial vehicle capability, with more than 30 different models and conversions already being built or planned for production, including low-emission vehicles and electric and hydrogen options.
The analysis also found that more than 20 different countries now have manufacturing, R&D, supply or services operations in the UK, with the SMMT advocating further global collaboration to drive continued growth.
The UK is already Europe’s second largest market for both vans and HGVs at 315,422 and 40,504 units respectively, while Britain is also Europe’s biggest zero emission bus market, at 2,508 registrations last year alone.
Mike Hawes, SMMT chief executive, said: “The shift to zero emission road transport is creating new opportunities across the global commercial vehicle industry, from vehicle manufacturing and engineering to supply chains and advanced technologies.
“The UK’s strength lies in its combination of industrial capability, innovation, skilled people and international partnerships. With investment already flowing and demand rising for next-generation vans, trucks and buses, the sector is well placed to help shape the future of sustainable mobility.
