£4 million backing for Norton Motorcycles from UK Government
Chancellor of the Exchequer George Osborne has announced today that the UK Government will inject £4million into Norton Motorcycles via their British Motorcycle Manufacturer Academy (BMMA).
This news will create more than 600 jobs in the next five years, as well as contribute to the further development of a supply chain that is exclusively British.
The Chancellor headed to Norton's Castle Donington to announce the deal which has been in the works for over a year, following an exchange between Norton owner Stuart Garner and Osborne over twitter. Garner told MCN back in 2014: "The help from the Government came about after I saw a Tweet George Osborne sent out saying a load of money had been given for green engine technology under development by Ford. I explained on a Tweet we were a small, British company who needed some help and his office got in touch."
This investment is expected to contribute to the production of a 1200cc V4 engine, most likely to be a sports bike development. We will most likely see an influx of new models from the company with rumours of a 650cc twin-cylinder motor being introduced to the market also. It is evidently an exciting investment for the company, with the building itself being expanded to a 10,000 square foot training and manufacturing facility.
It seems like a fantastic scheme to be a part of, with apprentices gaining a wide variety of skills in the process and will achieve the Institute of Motor Industry's Motorcycle Maintenance and Repair qualification in the process!
This is undoubtedly an exciting day for Norton Motorcycles, and here at MCE Insurance we can't wait to see what the British company can do with this investment, we're certain it can only be a positive thing for motorcycle lovers worldwide.
28.07.2015 - MCE Insurance
