Bentley has received a significant financial boost after the Department for Business Regional Growth Fund (RGF) granted the luxury car manufacturer £3 million. The money will safeguard 200 jobs, create additional positions and go towards the development of a new powertrain application, enabling Bentley to enter further markets.
Earlier this year Bentley received a £1.68m grant from the government's RGF to create more jobs and increase training. However this additional financial boost will help expand Bentley's footprint abroad.
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The company currently exports 80 percent of its production, with markets such as the US and Europe up by around a third. By the end of September, Bentley had exceeded sales of 1000 units in China, which is the the second biggest global market for the automaker due to continued interest in four-door models like the Mulsanne and the Continental Flying Spur.
"This is a real boost for Bentley which has one of the most highly skilled automotive workforces in the country and, uniquely, has now been awarded two RGF grants. It shows that the government recognises the importance of Bentley and the contribution we make to high value manufacturing and UK exports,” said Bentley Chairman and Chief Executive Wolfgang Dürheimer.
“Our customers expect the very best in terms of exclusivity, technology, quality and engineering excellence which requires significant ongoing investment in R&D. This is why we retain such a strong engineering capability exclusively for Bentley here in the UK. This grant will help safeguard those operations as we look to develop new powertrains which appeal to new markets and new customers.”