Lee Anderson has hailed "more proof that we can succeed outside the EU" after BMW introduced a £600 million UK funding.

The German producer confirmed the bumper funding to organize its Mini manufacturing unit in Oxford to construct new electrical vehicles after securing Government funding.

BMW mentioned it'll rework the plant to allow manufacturing of two new electrical Mini fashions which can start in 2026.

Mr Anderson, the deputy chairman of the Conservative Party, hailed the transfer.

He mentioned: "Brexit booming Britain. Remember after they mentioned Brexit would kill off automotive manufacturing within the UK? I do.... More proof that we will succeed outdoors the EU."

Prime Minister Rishi Sunak mentioned the Government is securing jobs and rising the financial system "by backing our car manufacturing industry".

He added: "BMW's investment is another shining example of how the UK is the best place to build cars of the future."

Business Secretary Kemi Badenoch visited the location earlier as we speak for the funding announcement.

She mentioned: "This decision is a big vote of confidence in the UK economy and the work of this Government to ensure the continued strength of our world-leading automotive sector.

"We are proud to have the ability to assist BMW Group's funding, which can safe high-quality jobs, strengthen our provide chains, and enhance Britain's financial progress."

BMW will invest a total of £600 million at the Oxford site and another Mini factory in Swindon, Wiltshire, where vehicle body panels are made.

Addressing Ms Badenoch in a speech at the Oxford plant, BMW Group board member Dr Milan Nedeljkovic said: "Without your assist, this transformation wouldn't be doable. This was the best transfer on the proper time."

The announcement is the most recent enhance for the British automotive business, with figures final month suggesting manufacturing elevated by nearly a 3rd in contrast with a yr in the past.