Astemo has invested the huge sum into its factory in Horwich
Andy Burnham, left, and Coun Bev Craig, right, met Mathieu Devillard, Executive Officer at Astemo, centre, in Tokyo(Image: MIDAS)
Japanese automotive firm Astemo is investing £100m in its Horwich factory in a move that could create more than 200 skilled jobs.
The Tokyo firm, which makes electronic and powertrain systems for vehicles, will create a new production line in Horwich to make inverters for electric vehicles. The move is backed by the UK Government and follows a “significant” contract win.
Astemo says it will be the only company in the UK with that production capability, putting Greater Manchester at the heart of the country’s push towards electric vehicles. The expansion is expected to create around 220 new high-skilled manufacturing jobs.
Astemo’s announcement follows a trade mission to Japan by Greater Manchester leaders, when Metro mayor Andy Burnham and city council leader Bev Craig met the company’s executive officer Mathieu Devillard at the group’s Tokyo HQ.
Ahead of that trade mission, Japanese vinegar manufacturer Mizkan – whose brands include Sarson’s – last month announced it was investing £17m in its Middleton base.
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 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.”
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’s leader, Coun 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 called the news “a huge win for Bolton and Greater Manchester”. He added: 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.”