PRESS RELEASE : Half a billion-pound investment in electric buses secured ahead of International Investment Summit [October 2024]

The press release issued by the Department for Transport on 8 October 2024.

Communities across the country will benefit from brand new, state-of-the-art green buses.

Up to 500 UK manufacturing jobs are set to be supported as bus operator Go Ahead today (8 October 2024) announces a major £500 million investment to decarbonise its fleet, including creating a new dedicated manufacturing line and partnership with Northern Ireland-based bus manufacturer Wrightbus.

The investment is set to fund the manufacturing of up to 1,200 new zero emission buses over the next 3 years. Built for operator Go Ahead, this investment will accelerate the transition to greener buses across the country including in Plymouth, Gloucestershire, East Yorkshire, London and the Isle of Wight.

On top of directly supporting 500 manufacturing jobs, the £500 million investment for Wrightbus will also support an additional 2,000 jobs across the wider UK supply chain by 2026, helping to get us back on track for growth.

The Transport Secretary will also announce plans to create a new UK Bus Manufacturing Expert Panel. This panel will bring together industry experts and local leaders to explore ways to ensure the UK remains a leader in bus manufacturing, help local authorities deliver on their transport ambitions, and begin to seize opportunities to embrace zero emission transport technologies.

The Transport Secretary is expected to meet with key industry leaders today including Wrightbus owner Jo Bamford and CEO Jean-Marc Gales, to reaffirm the government’s commitment to decarbonising local transport and fostering an environment for investment in the UK manufacturing industry, bringing sustained economic growth and supporting jobs.

The announcement comes ahead of the International Investment Summit, which will gather UK leaders, high-profile investors and businesses from across the world to discuss how we can deepen our partnership to drive investment and growth.

The Transport Secretary is expected to hold several bilateral meetings at the summit with international business leaders and make clear the UK is “open for business” so that she can help attract further investment to support the delivery of our transport priorities across the country.

The Prime Minister will also convene the first Council of Nations and Regions later this week, bringing together first ministers, Northern Ireland’s First Minister and Deputy First Minister and regional mayors from across England, as the government forges new partnerships, resets relationships to secure long term investment with the aim of boosting growth and living standards in every part of the UK.

Transport Secretary, Louise Haigh said:

The number one mission of this government is growing the economy. The half a billion pounds Go Ahead is announcing today shows the confidence industry has in investing in the UK.

This announcement will see communities across the country benefit from brand new, state-of-the-art green buses – which will deliver cleaner air and better journeys.

We’re creating the right conditions for businesses to flourish, so we can support jobs and accelerate towards decarbonising the transport sector.

Under this government, Britain is open for business.

Chancellor of the Exchequer Rachel Reeves said:

This investment is exactly kind we want to see as we grow the economy. One that creates jobs right across the country.

And that’s what the international investment summit next week is all about too. Showing the world’s biggest businesses and investors why they should bring their jobs – and their money – to the UK.

For every vehicle manufactured, 10 trees will be planted by Go-Ahead and Wrightbus in the towns and cities where the buses are deployed.

Buses, as the most used form of public transport, have been prioritised by this government from the outset. The Transport Secretary has made improving bus services and delivering greener transport 2 of her 5 core priorities.

Last month, the Transport Secretary announced a package of measures to empower local leaders to take back control of their bus services and deliver services based on the needs of communities, to grow passenger numbers and deliver better services for all.

Building on this, the government’s new buses bill is set to be introduced in Parliament by the end of this year and will bring an end to the current postcode lottery by taking steps to improve bus services no matter where you live.

Further details on the UK Bus Manufacturing Expert Panel will be confirmed in due course.

Go-Ahead Bus CEO, Matt Carney said:

This multi-million pound investment and partnership with Wrightbus will accelerate the transition to zero-emission fleet across the UK.

We are proud to be working in partnership with the UK government and local authorities to deliver transformational environmental change for communities, while supporting UK jobs and the growth of the country’s supply chain.

Wrightbus CEO, Jean-Marc Gales said:

The deal with Go-Ahead is hugely significant and represents a huge boost to the UK’s economy. It will support homegrown manufacturing, jobs and skills for the next three years and beyond. We’ve always been proud to support the UK’s supply chain and our Go-Ahead partnership will ensure even more money can be spent securing good green jobs.

We must also not forget that this deal represents a massive step forward in our ambition to help decarbonise the transport sector with our world-leading products. It was heartening today to hear the government reaffirm its commitment to a green transport sector.