Fleet News

Cosworth Technology set to benefit by £47m from Audi

AUDI is to plough almost £47 million into Cosworth Technology, the Midlands-based automotive engineering consultancy, leading to the creation of 700 new jobs. The money will go towards providing new business during the next three years.

The effect will be to almost double the workforce to 1,500 in the next three years with the extra jobs mainly at Cosworth's three plants in the UK, but its US subsidiary in Michigan will also benefit. The £47 million in contracts with Cosworth, which is owned by Volkswagen's Audi subsidiary, will cover engine machining and assembly, powertrain development and aluminium cylinder head castings.

Audi and Cosworth both said there was no immediate plans to put Cosworth engines in Audi cars. David Bate, Cosworth joint chief executive, said it would maintain a 50/50 balance between group and non-group activities. The Cosworth name has been most recently linked to Ford, which has revealed that a Cosworth Focus could go into production. The concept version is powered by a Cosworth-developed 2.0-litre turbocharged and intercooled Zetec E engine.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee