Figures released by automotive inward investment body Drive Midlands show that the region's automotive sector secured 58 new foreign direct investment (FDI) deals during 2016/17, a 10% increase on the previous year.
These new projects, which involved investors from the US, India and China, helped to generate almost 3,000 new jobs across the Midlands.
David Shepherd, senior business development manager (automotive) at the West Midlands Growth Company, which oversees the Drive Midlands initiative, said: “The fact that the Midlands continues to attract foreign investors is proof of its resilience and ability to deliver a 'business as usual' perspective. As we wait for the Brexit situation to unfold, automotive businesses from OEMs right through to large manufacturers are pulling together to make sure this region remains a safe and attractive bet for investors.”
The Midlands currently accounts for 50% of the UK's automotive activity and is home to seven high-volume car manufacturers, seven commercial vehicle producers and 16 major automotive suppliers.