Lithuania Invites UK’s Automotive Industry to Relocate
Inspired by Brexit, MEP Antanas Guoga (Tony G) has signalled the launch of a campaign which seeks to position Vilnius (Lithuania) as the perfect location for UK businesses now looking into the possibility of relocation options. This time, the focus of his attention is the automotive industry, which is anticipated to be one of the sectors most severely impacted by the UK’s vote to leave the EU. With a record 1.5 million cars being produced in the U.K in 2015, the majority of which (57.7%) were exported to the E.U., the industry has much to lose if it fails to make the correct strategic decisions in light of Britain’s momentous Brexit decision.
Lithuania is ranked 4th worldwide as a “high growth location” for investment in manufacturing and is home to an expanding number of major international automotive companies such as Schmitz Cargobull, CIE Automotive, Yazaki, and AQ Wiring Systems.
Nurturing automotive talent is one of Lithuania’s priorities. That is why the country has been quick to see the importance of establishing close co-operation between business and education. Currently ranked as 1st in CEE and 27th globally for university industry collaboration in R&D by the World Economic Forum, Lithuania can help relocating companies grow the talent they need to see their businesses prosper.
Finally, it’s all about the location. Positioned in the heart of Europe, bordering both Central Europe and the CIS, and within quick reach of Scandinavia and Western Europe, Lithuania provides effective access to approximately 750 million customers.
For an industry facing uncertainty in the coming months as regards what exactly lies ahead once article 50 for leaving the EU has been triggered, Mr. Guoga believes Vilnius, and Lithuania, offer a safe, reliable, and most importantly, prosperous new home.