Japanese manufacturer Astemo is set to invest £100 million in its factory in Horwich in Bolton.
The significant investment, which comes on the back of Greater Manchester’s recent Mayoral trade mission to Japan, is expected to create and safeguard around 220 new high-skilled manufacturing jobs at the heart of the electric vehicle supply chain.
Astemo is a global Japanese company that manufactures electronic systems for vehicles at its plant in Horwich. The investment will create a new production line to manufacture inverters for electric vehicles; which follows a significant new contract win for the company and is backed by UK Government via the Automotive Transformation Fund (ATF).
With the new line, Astemo will be the only company in the UK with this capability, providing a further boost for the city region’s automotive supply chain sector and Greater Manchester’s advanced manufacturing capabilities.
Greater Manchester leaders, including Mayor Andy Burnham, Cllr Bev Craig, and MIDAS, Manchester’s Inward Investment Agency, met with Mathieu Devillard, Executive Officer at Astemo in Tokyo to welcome the announcement, and to underline their commitment to Astemo’s ongoing growth and success in the city region.
Mayor of Greater Manchester Andy Burnham said:
“This investment by Astemo is a huge vote of confidence in Bolton and Greater Manchester. It puts our city-region at the forefront of the electric vehicle revolution, creating high-quality, long-term jobs and opportunities in our advanced manufacturing sector.
“During our recent trade mission to Japan, Bev Craig and I had the opportunity to meet with Astemo. Their long-term commitment to Greater Manchester was clear and they will have our full backing as they look to grow over the coming years.
“We are proud that our international engagement has made the Greater Manchester the number one UK destination for foreign direct investment outside London. Japanese companies like Astemo have found a genuine partner in our-city region and our growing reputation for innovation is increasingly making us the natural choice for international businesses who want to grow.”
Leader of Manchester City Council and Greater Manchester Combined Authority portfolio lead for economy, business and inclusive growth, Cllr Bev Craig, said:
“Greater Manchester’s economy continues to go from strength to strength, with the new investment from Astemo demonstrating the confidence international businesses have in our city-region, as well as the real economic value being created by our long-term engagement with Japan. This investment also demonstrates the ongoing importance of our international engagement and the opportunities that investors see across our city region.
“Our diverse, resilient economy, worth approximately £80 billion annually, provides the perfect foundation for Japanese companies to establish and expand their UK operations. We look forward to celebrating the depth of our cultural and trading partnership with Japan during Japan Week in Manchester in September this year.”
Bolton Council Leader, Cllr Nick Peel, said:
“This is fantastic news for Bolton, which will create hundreds of jobs in Horwich, and ensure a new production line to manufacture inverters for electric vehicles.
“Pioneering companies like Astemo are investing in their people and technologies for the long-term and making a home in Bolton.
“Investments like this create a renewed sense of excitement and confidence in the borough that will attract further investment.”
Business and Trade Secretary Jonathan Reynolds said:
“Astemo investing over £100 million into its UK site is a huge win for Bolton and Greater Manchester and a vote of confidence in our Plan for Change. It will create and safeguard more than 200 jobs, putting more money in local people’s pockets.
“We’re helping British auto manufacturers get to the front of the pack by working hand in hand with investors to build a globally competitive zero-emission vehicle supply chain in the UK.
“Security for working people is our number one priority, and by backing our world leading auto sector we are creating the right conditions for increased investment, bringing growth, jobs, and opportunities to every part of the UK.”
Joe Manning, Managing Director at MIDAS, Manchester’s Inward Investment Agency, said:
“This substantial investment from Astemo creates real opportunities for our city-region. With over £100m in confirmed investment supporting 220 jobs, we’re seeing the tangible benefits of our international partnerships, with Astemo being a prime example of this.
“MIDAS has worked closely with Astemo for several years, and it’s fantastic to see the results with an investment of this scale.
“We look ahead to building on the momentum created through this investment.”