By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 232 of the Trade Expansion Act of 1962, as amended (19 U.S.C. 1862) (section 232), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, I hereby determine and order:

Section 1. Background.  On May 8, 2025, United Kingdom Prime Minister Keir Starmer and I announced the General Terms for the United States of America and the United Kingdom of Great Britain and Northern Ireland Economic Prosperity Deal (General Terms).  The General Terms outline a historic trade deal that provides American companies unprecedented access to British markets while bolstering the national security and economy of the United States.  The deal includes billions of dollars of increased market access for American exports, especially for beef, ethanol, and certain other American agricultural exports.  In addition, the United Kingdom will reduce or eliminate numerous non-tariff barriers that unfairly discriminate against American products, hurt the United States’ manufacturing base, and threaten the national security of the United States.
The General Terms provide, among other things, that the United States intends to create an annual quota of 100,000 vehicles for United Kingdom automotive imports at a 10 percent tariff rate.  In the General Terms, the United Kingdom also committed to working to meet American requirements on the security of the supply chains of steel and aluminum products intended for export to the United States and on the nature of ownership of relevant production facilities.  Provided the United Kingdom meets these requirements, the United States intends to promptly construct a quota at most-favored-nation rates for steel and aluminum articles and certain derivative steel and aluminum articles that are products of the United Kingdom in the context of implementing the General Terms.  
Furthermore, in the General Terms, the United States and the United Kingdom committed to negotiate significantly preferential treatment outcomes on pharmaceuticals and pharmaceutical ingredients that are products of the United Kingdom, contingent on the findings of an investigation regarding pharmaceuticals and pharmaceutical ingredients under section 232, and provided that the United Kingdom complies with certain supply chain security standards.  Finally, in the General Terms, the United States and the United Kingdom committed to adopt a structured, negotiated approach to addressing United States national security concerns regarding sectors that may be subject to future section 232 investigations.  To that end, the United States and the United Kingdom further committed to strengthen aerospace and aircraft manufacturing supply chains by establishing tariff-free bilateral trade in certain aerospace products.
In my judgment, I determine that the following actions are consistent with the national interests of the United States and are necessary and appropriate to deal with the national emergency declared in Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff To Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits), as amended, and to reduce or eliminate the threats to national security found in Proclamation 9704 of March 8, 2018 (Adjusting Imports of Aluminum Into the United States), as amended; Proclamation 9705 of March 8, 2018 (Adjusting Imports of Steel Into the United States), as amended; and Proclamation 9888 of May 17, 2019 (Adjusting Imports of Automobiles and Automobile Parts Into the United States), as amended.

Sec. 2.  Automobiles and Automobile Parts.  (a)  I hereby establish an annual tariff-rate quota of 100,000 automobiles as classified in heading 8703 of the Harmonized Tariff Schedule of the United States (HTSUS) and as further specified in note 33(b) to subchapter III of chapter 99 of the HTSUS for automobiles that are products of the United Kingdom.  Imports of automobiles within the tariff-rate quota that would otherwise be subject to a 25 percent tariff under Proclamation 10908 of March 26, 2025 (Adjusting Imports of Automobiles and Automobile Parts Into the United States), shall instead be subject to a 7.5 percent tariff, in addition to the most-favored-nation rate for automobiles of 2.5 percent, for a combined tariff of 10 percent.  Imports of automobiles in excess of the tariff-rate quota shall remain subject to the full duties imposed by Proclamation 10908.  The tariff-rate quota shall be adjusted for calendar year 2025 to reflect the General Terms’ operative date of May 8, 2025.  The quota shall be effective 7 days after the publication of this order in the Federal Register.
(b)  Automotive parts specified in note 33(g) to subchapter III of chapter 99 of the HTSUS that would otherwise be subject to a 25 percent tariff under Proclamation 10908 shall instead be subject to a total tariff of 10 percent (including any most-favored-nation tariffs), provided that they are products of the United Kingdom and are for use in automobiles that are products of the United Kingdom.  This change shall be effective as of the date of the publication of the Federal Register notice described in subsection (c) of this section. 
(c)  Within 7 days of the date of publication of this order in the Federal Register, the Secretary of Commerce (Secretary), in consultation with the United States International Trade Commission (ITC) and U.S. Customs and Border Protection (CBP), shall publish a notice in the Federal Register modifying the HTSUS consistent with this section, if necessary. 
(d)  The Secretary may issue rules, regulations, guidance, and procedures to carry out the provisions of this section.

Sec. 3.  Aerospace.  (a)  With respect to products of the United Kingdom that fall under the World Trade Organization Agreement on Trade in Civil Aircraft, the tariffs imposed through the following Presidential actions and subsequent amendments to those actions shall no longer apply, as of the date of publication of the Federal Register notice described in subsection (b) of this section:
(i)    Executive Order 14257, as amended;
(ii)   Proclamation 9704, as amended; and
(iii)  Proclamation 9705, as amended. 
(b)  Within 7 days of the date of publication of this order in the Federal Register, the Secretary, in consultation with ITC and CBP, shall publish a notice in the Federal Register modifying the HTSUS consistent with this section, if necessary.
(c)  The Secretary may issue rules, regulations, guidance, and procedures to carry out the provisions of this section.

Sec. 4.  Aluminum and Steel Articles and Their Derivative Articles.  (a)  At a future time that the Secretary, in consultation with the United States Trade Representative, deems appropriate, the Secretary shall design and establish a tariff-rate quota for aluminum articles and derivative aluminum articles that are products of the United Kingdom, consistent with the General Terms and the purpose of this order.  Imports of aluminum articles or derivative aluminum articles that are products of the United Kingdom in excess of the tariff-rate quota established by the Secretary shall remain subject to the duties set forth in Proclamation 9704, as amended. 
(b)  At a future time that the Secretary, in consultation with the United States Trade Representative, deems appropriate, the Secretary shall design and establish a tariff-rate quota for steel articles and derivative steel articles that are products of the United Kingdom, consistent with the General Terms and the purpose of this order.  Imports of steel articles or derivative steel articles that are products of the United Kingdom in excess of the tariff-rate quota established by the Secretary shall remain subject to the duties set forth in Proclamation 9705, as amended.
(c)  In determining when to establish, whether to establish, and the design of a tariff-rate quota for aluminum and steel articles and their derivatives, the Secretary shall act in a manner consistent with the national interests of the United States and the purpose of this order and shall consider factors he deems appropriate, such as actions taken by the United Kingdom to implement the General Terms and any final agreement entered by the United States and the United Kingdom subsequent to the General Terms; the need to deal with the national emergency declared in Executive Order 14257, as amended; and the need to reduce or eliminate the threats to national security found in Proclamation 9704, as amended, and Proclamation 9705, as amended. 

Sec. 5.  General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect:
(i)   the authority granted by law to an executive department or agency, or the head thereof; or
(ii)  the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
(d)  The costs for publication of this order shall be borne by the Department of Commerce.

The New Koenigsegg Sadair's Spear

Koenigsegg proudly presents Sadair’s Spear.

With increased power, reduced weight, a track-focused interior, upgraded brakes and suspension, and finely tuned aerodynamics, Sadair’s Spear delivers an extraordinary combination of blistering track capability and full road legality across global markets and sets a new bar in Koenigsegg´s performance evolution.

A Name Rooted in Heritage

The inspiration behind the name "Sadair’s Spear" is deeply personal. Christian von Koenigsegg previously honoured his father, Jesko, on his 80th birthday by naming the Koenigsegg Jesko after him—a heartfelt tribute for his invaluable support during Koenigsegg’s formative years.

Jesko von Koenigsegg was a passionate gentleman jockey with lifelong ties to Sweden’s equestrian community. His favourite racehorse—the one he rode in his final race in 1976—was named Sadair’s Spear.

Fittingly, the car bearing this storied name is uncompromisingly engineered for peak track performance.

Performance Highlights:

• A new lightweight, top-mounted double-blade active rear wing optimized for increased downforce.
• Elongated rear-end design to enhance aerodynamic efficiency and stability.
• Expanded front canards, louvres, and reengineered hood vents, including a new Gurney flap, delivering superior cooling for sustained high-performance.
• Redesigned air intakes for enhanced engine breathing, adding 20hp with standard fuel and 25hp using E85.
• Improved oil cooling capability, essential for sustained track driving in high-temperature conditions.
• Exclusive Sadair’s Spear 7-spoke turbine-blade Aircore carbon fibre wheels, with unique directional designs at each corner.
• Upgraded wider, track-oriented tires for exceptional grip.
• Bespoke suspension setup featuring lightweight springs and Koenigsegg-designed Triplex dampers for superior track handling.
• Enhanced multi-layer carbon-ceramic brakes with upgraded pad materials.
• Bespoke interior styling exclusive to Sadair’s Spear.
• Unique Sadair’s Spear racing seats with optional 6-point harnesses*.

Aerodynamics – Mastery of Airflow

Unmatched aerodynamic performance is central to Sadair’s Spear. Koenigsegg’s advanced CFD team meticulously optimized airflow, ensuring unprecedented downforce and cooling. The active, top-mounted double-blade rear wing is carefully crafted for maximum cornering traction at track speeds, working in harmony with refined underfloor strakes and wheel arch louvres.

Balancing this rear downforce, the front-end aero package—including larger canards, enhanced hood vents, and refined wheel arch louvres—further increases cooling efficiency and downforce. Together with the front Triplex damper and Active Ride Height system, these enhancements deliver extraordinary steering feedback and dynamic handling.

Specially designed rear hood scoops further boost engine performance at high speeds, while a revised front hood vent with integrated Gurney flap ensures optimal cooling airflow, providing additional downforce in critical areas.

Drivetrain – Exhilarating Power Redefined

Powering Sadair’s Spear is Koenigsegg’s formidable twin-turbo V8 engine, delivering astonishing responsiveness via the revolutionary flywheel-free Light Speed Transmission (LST), capable of revving at a staggering 46,000 rpm/s.

Enhanced airflow and cooling, coupled with an engine calibration update, increase output to 1,300hp on regular unleaded fuel, and up to 1,625hp using eco-friendly E85 fuel.

Celebrating a decade since the groundbreaking Koenigsegg One:1, Sadair’s Spear pushes the power-to-weight boundary even further, dropping around 35 kg of weight to achieve an extraordinary ratio, even surpassing the iconic 1:1 benchmark.

Koenigsegg continues its unmatched legacy as the world’s only premier manufacturer of fully homologated road vehicles exceeding a 1:1 power-to-weight ratio.

Interior – Minimalism Meets Performance

Inside, the cockpit of Sadair’s Spear showcases a lightweight, minimalist center console and redesigned carbon fibre seats. Standard three-point seatbelts can be optionally upgraded to a 6-point racing harness*.

True to its track-oriented philosophy, gear changes via the Light Speed Transmission are executed solely through steering wheel-mounted paddles.

Weight reduction continues throughout the interior, saving 2.6 kg through reduced sound insulation, another 1.3 kg with new carbon fibre techniques, and further contributions from lightweight interior and mechanical components, collectively shedding 35 kg.

Koenigsegg’s hallmark comforts and advanced features remain: the steering-mounted SmartCluster display, SmartCenter command interface, USB connectivity, inductive phone charging, Koenigsegg’s innovative Autoskin system, and birds-eye parking assist.

A Testament to Performance

The final creation is both visually captivating and mechanically groundbreaking, expertly balanced to dominate on roads and circuits alike.

During initial shake-down tests at Gotland Ring, Sadair’s Spear immediately shattered the previous lap record, set by the Jesko Attack by an impressive 1.1 seconds, demonstrating its immense untapped potential.

Christian von Koenigsegg states:

“Sadair’s Spear represents a natural progression for Koenigsegg—an impeccable balance of raw power, refined aerodynamics, and extraordinary road presence. This car is destined to set records. Achieving such track dominance in a fully road-legal vehicle is nothing short of remarkable.”

Sadair’s Spear, with production strictly limited to 30 units—all instantly sold upon its private unveiling—is an iconic addition to Koenigsegg’s storied legacy.

To find out more click here.

25 June 2025

The Motorsport Industry Association (MIA) is delighted to announce that the 2025 winner of its prestigious Award for Outstanding Contribution to the Motorsport Industry is Peter Digby. 

Peter, Chairman of the British Racing Drivers’ Club (BRDC), was former President of Xtrac and Chairman of the MIA. He was presented with the Award at the House of Lords, London, last night during the MIA’s annual Summer Reception. 

This prestigious Award from the MIA — the world’s leading organisation for the motorsport and high-performance engineering industry — recognises outstanding personal contribution to this industry. Past winners include Toto Wolff, Ross Brawn OBE, Martin Brundle OBE, Adrian Newey OBE, and Sir Jackie Stewart. Throughout his career, Peter has made a lasting and positive impact on British motorsport and its global reputation.

Peter started his motorsport career in 1979 at Williams Racing, rising to become Production Manager. After a short spell at Haas Lola as Assistant Managing Director, in 1986, former Hewland engineer Mike Endean persuaded him to join the fledgling British transmission manufacturer Xtrac, which he went on to lead to success over the following decades.

Operating from its headquarters in Thatcham, Berkshire, Xtrac established facilities in the United States in Indianapolis, Indiana, and Mooresville, North Carolina and recently, Austria. 
 
Xtrac recently dominated the 2025 24 Hours of Le Mans, supplying transmissions to 90% of the grid. They are now the exclusive transmission supplier to the NTT IndyCar Series, the NASCAR Cup Series, LMDh entries in IMSA, the British Touring Car Championship (BTCC), and the eWRX, the first all-electric off-road FIA World Championship.

Under Peter’s leadership, Xtrac’s increasingly global footprint and its focus on fostering young talent through many apprenticeship schemes has established the company as one of Motorsport Valley^®’s greatest success stories.

Peter moved on to become Chairman of the BRDC, the operator and owner of Silverstone Circuit, home of the Formula 1 British Grand Prix. Peter led the team which negotiated a new ten-year deal with Formula One Management (FOM), securing the British Grand Prix’s future at Silverstone until at least 2034.

Peter was Chairman of the MIA for five years, nurturing the international trade body of motorsport and high-performance engineering from 2003 to 2008.

Peter Digby said:

 “Winning the MIA Award for Outstanding Contribution to the Motorsport Industry is a great event for me. I’ve been involved with the MIA for well over 30 years, I’ve been Chairman of the Association, and I’ve seen what it’s done for the industry. It’s an honour to be recognised by my peers, and I’m really excited by it! It’s been a great evening, and this was a total surprise. Being recognised in the industry that I love, and have worked in now for over 45 years, is just a great honour.”

Chris Aylett (Chief Executive Officer, MIA) said: 

 “Peter deserves all the praise he gets for winning this MIA Award, voted on by our members. His well-informed knowledge, huge experience and determination to bring success to Xtrac never wavered. So many, working in motorsport today, have benefited from his advice, occasional criticism, and support!”

Notes to Editors

About the MIA

The Summer Reception at the House of Lords is The Motorsport Industry Association’s most prestigious annual event for its members, which has taken place for over 30 years. The 2025 Summer Reception was partnered by Bahrain International Circuit.  

Founded in 1994, the MIA is the world's leading trade association for the motorsport, high performance engineering, services and tuning sectors. As an industry that is constantly having to deal with rapid development, it is the MIA’s role to globally represent and support the specialised needs of its members.

Motorsport Valley® is a registered trademark of the Motorsport Industry Association (MIA), owned by its members on behalf of the wider UK industry.

For more information, please contact:

Matt Bishop, Managing Director, Diagonal Comms: matt.bishop@diagonalcomms.com 

Joe Downes, Business Director, Diagonal Comms: joe.downes@diagonalcomms.com

George Brabner, Account Executive, Diagonal Comms:
george.brabner@diagonalcomms.com

Zenvo Aurora confirms Alcon as technical partner

The Zenvo Aurora hypercar will deliver uncompromised performance, through tactile and immersive feeling for the driver. Braking and stopping capability will be an integral element of this carefully developed engineering balance, and Aurora will utilise the latest in bespoke braking system technologies from newly confirmed technical partner, Alcon Components to bring the power of the highly efficient bespoke V12 drivetrain under control.

The newly developed system uses billet monobloc calipers, six-piston at the front, four-piston at the rear. These are mated with carbon fibre-reinforced silicon carbide (C/SiC) brake discs, providing optimised braking performance and thermal capacity with no detrimental effect on brake pedal feel and feedback, even under extreme conditions. The materials used throughout the braking system are carefully selected and optimised to offer significant weight savings and ultimate performance.

“Delivering power is only one part of the challenge when engineering a true driver’s car. Controlling it, and making it usable on road and on track, is as important,” explains Jon Gunner, Chief Technical Officer, Zenvo Automotive. “For a no compromise project like Aurora, the braking system is critical. Driver engagement; being able to harness up to 1,850hp; providing feedback and feel with a hybridized powertrain – each element plays a part in how the Aurora performs. Alcon Components have proven themselves to be world-beaters when it comes to delivering systems which can cope at the most extreme levels, and their latest braking system is the perfect fit for the track-focused Agil model, and the more classically styled GT Tur model. Delivering relentless and fade free performance, when needed, each and every time.”

Alcon has over 40 years of experience in engineering brakes and clutches for specialist vehicles; from Formula 1 and the World Rally Championship, prestige performance cars to 30T-plus military armoured vehicles. This positions Alcon at the forefront of developing and delivering high-performance braking solutions for sectors where only the absolute best can be accepted.

“We’re thrilled to be chosen as the brake supplier for the Zenvo Aurora Tur and Agil models,” added Steve Hodgkins, Chief Engineer Performance OEM at Alcon. “Zenvo’s commitment to engineering excellence and pushing performance boundaries mirrors our own philosophy at Alcon. This collaboration has allowed us to develop a bespoke braking solution, leveraging our motorsport heritage and advanced technologies to meet the extreme demands of these hypercars. Together, we’ve created a system that delivers exceptional thermal capacity, consistent pedal feel, and uncompromising stopping power — fully aligned with Zenvo’s vision of ultimate driver engagement.”

To find out more click here.

UKEF unveils new strategic financing for industrial growth

• Multi-billion-pound direct lending by UK Export Finance will help boost orders for British exporters across key industrial sectors, including defence

• Export credit agency to introduce new product to secure critical minerals supply and plans to legislate to increase its statutory commitment limit to support even more businesses

• New measures announced as part of Industrial Strategy published yesterday

Through its Direct Lending Facility, UKEF – the government’s export credit agency – provides loans to overseas buyers, allowing them to finance the purchase of capital goods and services from UK suppliers.

Outlined in the Industrial Strategy, UKEF now has greater flexibility of direct lending powers to support all eight Industrial Strategy sectors, from clean industries and life sciences to advanced manufacturing and defence.

The £13 billion marks a £3 billion uplift in UKEF’s facility. Of this £13 billion, at least £3 billion will be used to stimulate defence exports, demonstrating the growing importance of this sector to economic and national security.

Recent direct lending deals include a £18.8 million equivalent loan for an Angolan clean water project delivering up to approximately £6.8 million of supply contracts for British exporters, and a £23 million equivalent loan to Iraq’s Ministry of Interior to purchase 62 UK-made fire-fighting vehicles.

Business Secretary Jonathan Reynolds said:

UKEF plays an instrumental role in delivering our Industrial Strategy – providing the essential support that British businesses need to compete internationally.  

By unlocking export opportunities and supporting innovation across key sectors through mechanisms like direct lending, UKEF is helping to drive sustainable economic growth, create highly skilled jobs and strengthen Britain’s place as a go-to trading partner.  

Our commitment to backing British exporters forms a vital part of this government’s Plan for Change which will raise living standards in every part of UK.

Following on from the announcement of UKEF’s Critical Minerals Supply Finance product in the Autumn Statement, the department is going further to secure industry access to critical minerals by launching a new loan guarantee scheme for UK-based suppliers that sell critical minerals, or products that contain critical minerals, to UK exporters.  

UKEF also plans to legislate to have its statutory commitment limit – the entire amount of support that the department can have on its books at any one time – increased which will enable it to support more businesses of all sizes across the UK. The department will review its operating mandate to consider taking on a broader trade and investment finance remit.

To encourage growth at a local level, the department plans to expand its network of 24 local export finance managers to give focus on city regions and clusters where key sectors have a presence. Export finance managers provide free and impartial guidance to businesses on their export finance needs.

UK Export Finance CEO Tim Reid added:

UKEF is well positioned to drive exports across high-impact industry sectors and create economic growth. We look forward to playing a key role in driving delivery of the Industrial Strategy, using our increased capacity and flexible product range.

Backed by our comprehensive five-year business plan that will reach businesses of all sizes across every region and nation of the UK, we’re laying the extra foundations to enable thousands more British businesses to take their products and services to global markets.

The measures are announced ahead of UKEF’s 2024/25 annual report & accounts which will be published shortly. The results are expected to show it was a record-breaking year for the department.

It will build on the results of the 2023/24 financial year in which UKEF provided over £8.8 billion of support to 650 businesses of all sizes and types, supported up to 41,000 jobs in communities around the whole UK and the contribution of up to £3.3 billion to the overall economy.

To find out more click here.

Grant Thornton UK in association with The Motorsport Industry Association (MIA), today launches the 2024 Review of UK Motorsport Valley^®, revealing an industry at the cutting edge of high-performance engineering, delivering exceptional growth, global influence, and increasing international investment.

The Grant Thornton report builds on previous studies commissioned by the MIA in 2000 and 2013. It reveals that the UK motorsport and engineering services sector reached a sales turnover of £16billion in 2023 – increasing from £9billion in 2012 – and now employs 50,000 people.

The report’s other key findings include:

• 89 per cent of UK motorsport businesses generate export revenue, with the USA as the top importer.
  
  
• 93 per cent make international business decisions from within the UK, underlining the UK’s strategic role.
  
  

• 70 per cent of all Formula 1™ teams and the Formula One Group’s HQ are based in the UK’s Motorsport Valley.
  
  
• Motorsport businesses spent 14 per cent of turnover on R&D, with 94 per cent maintaining or increasing investment.

The sector is closely aligned with the UK Government’s industrial strategy, particularly around skills and employment. The report highlights that 34 per cent of motorsport businesses employ apprentices and have a strong commitment to the recruitment and training of future talent.

Meanwhile, 14 per cent have made acquisitions in the past three years, with 55 per cent of those investments made overseas, reflecting a sector expanding its global reach.

Motorsport Valley, is more than a leading business cluster – it has become an international symbol of British engineering excellence. As the MIA and its members celebrate over 30 years of support for this dynamic sector, the 2024 Review underlines its strategic importance to the UK economy and its bright future.

Chris Aylett (Chief Executive, MIA) said:
“Following a decade of outstanding growth and global success, the UK’s Motorsport Valley high-performance engineering cluster is clearly set for a bright future. Increased exports, consistent R&D investment, the recruitment and retention of world-class talent, new corporate investors, and substantial exposure to an international audience are positioning the UK as the undisputed global hub for motorsport innovation. This is not just sport – this is a substantial industry with enormous impact across numerous sectors, including aerospace, defence, marine, and medical. 

The motorsport industry has shown remarkable resilience and growth, it continues to be a world-leading example of a thriving business cluster and a jewel in the crown of UK advanced engineering. The enthusiasm of young people for the exciting engineering and technology challenges they enjoy in Formula One and in all forms of motorsport, will, if harnessed correctly, be a real asset to the UK’s future.”

Owen Edwards (Head of Automotive, Business Consulting, Grant Thornton) said:
“The UK motorsport industry continues to be a global benchmark for high-performance engineering, innovation, and resilience. Our latest report with the Motorsport Industry Association highlights not only the sector’s impressive £16 billion turnover and growing international footprint, but also its critical role in advancing technology, skills, and sustainability across multiple industries. Motorsport Valley is more than a geographic hub, it’s a symbol of British excellence, and we’re proud to support its continued growth and global leadership.”

The full report is available to download at: https://the-mia.com/page/65NationalSurvey

Notes to editors:

About the MIA
Founded in 1994, The Motorsport Industry Association is the world's leading trade association for the motorsport, high performance engineering, services and tuning sectors. As an industry that is constantly having to deal with rapid development, it is the MIA’s role to globally represent and support the specialised needs of its members.
Motorsport Valley^®, is a registered trademark of the Motorsport Industry Association (MIA), owned by its members on behalf of the wider UK industry.

For media enquiries, please contact: 
Matt Bishop, Diagonal Communications (matt.bishop@diagonalcomms.com) 
Joe Downes, Diagonal Communications (joe.downes@diagonalcomms.com) 

For enquiries regarding the report, please contact:
Alexander Martin, Assistant Business Development Manager, Grant Thornton UK (alexander.p.martin@uk.gt.com) 

Fortescue recognised as a global leader in 'Real Zero' decarbonisation

Fortescue has been named a global leader in its commitment to Real Zero in a newly released report by Climate Integrity and the Institute for Sustainable Futures at the University of Technology Sydney.

The report recognises Fortescue, alongside IKEA and Lendlease, for pioneering industry-leading climate strategies that phase out fossil fuels without reliance on carbon offsets.

As the world grapples with the realities of climate change – including last year’s breach of the 1.5˚C global temperature threshold – Fortescue is proving that rapid and meaningful action is not only possible but commercially smart.

Fortescue Metals CEO, Dino Otranto said: “This recognition is a testament to the work we’re doing to prove that heavy industry can cut fossil fuels – not someday, but right now.

“Fortescue, Lendlease and IKEA are showing that business can turn the tap off on fossil fuels as fast – or even faster – than the science says is necessary. There are new and better ways of operating, through lower cost, more efficient technologies. Fortescue is seizing these opportunities rather than foisting the problem on the next generation. The fossil fuel era is winding down and Fortescue intends to be at the forefront of what comes next.”

Climate Integrity Director, Claire Snyder, said: “The ambition displayed by Fortescue, IKEA and Lendlease is redefining what corporate climate leadership could and should look like both in Australia and around the world.

“Our report shows that companies with market-leading decarbonisation strategies have shifted focus from ‘net zero’ to ‘real zero,’ and provides three case studies to show that not only is it possible – it is already happening and it’s good for business.”

To achieve its Real Zero target, Fortescue is accelerating the development of 2-3GW of renewable energy and battery storage in the Pilbara, including a 190MW solar farm that is currently under construction at its Cloudbreak mine site.

Fortescue, IKEA and Lendlease are also exploring new cross-sector partnerships to share insights and advance climate solutions across industries and invite other companies to join them in creating a Real Zero nucleus to drive change in Australia and globally.

To find out more click here.

Industrial Strategy sets out Government’s ten-year plan

• Electricity costs for thousands of businesses to be slashed by up to 25%.
• New Industrial Strategy to unlock billions in investment and support 1.1 million new well-paid jobs over the next decade.
• Strategy developed in partnership with business, marking a new era of collaboration between government and high growth industries.
• Strategy will make the UK the best country to invest in and grow a business, delivering on the Plan for Change.

More than 7,000 British businesses are set to see their electricity bills slashed by up to 25% from 2027, as the Government unveils its bold new Industrial Strategy today [Monday 23 June].

The modern Industrial Strategy sets out a ten-year plan to boost investment, create good skilled jobs and make Britain the best place to do business by tackling two of the biggest barriers facing UK industry - high electricity prices and long waits for grid connections.

British manufacturers currently pay some of the highest electricity prices in the developed world while businesses looking to expand or modernise have faced delays when it comes to connecting to the grid.

For too long these challenges have held back growth and made it harder for British firms to compete. Today’s announcement marks a decisive shift — with government stepping in to support industry and unlock the UK’s economic potential.

From 2027, the new British Industrial Competitiveness Scheme will reduce electricity costs by up to £40 per megawatt hour for over 7,000 electricity-intensive businesses in manufacturing sectors like automotive, aerospace and chemicals.

These firms, which support over 300,000 skilled jobs, will be exempt from paying levies such as the Renewables Obligation, Feed-in Tariffs and the Capacity Market — helping level the playing field and make them more internationally competitive. Eligibility and further details on the exemptions will be determined following consultation, which will be launched shortly.

The government is also increasing support for the most energy-intensive firms — like steel, chemicals, and glass — by covering more of the electricity network charges they normally have to pay through the British Industry Supercharger. These businesses currently get a 60% discount on those charges, but from 2026, that will increase to 90%. This means their electricity bills will go down, helping them stay competitive, protect jobs, and invest in the future.

This will help around 500 eligible businesses in sectors such as steel, ceramics and glass reduce their costs and protect jobs in industries that are the backbone of our economy and will be delivered at no additional cost to the taxpayer.

These reforms complement the government’s long-term mission for clean power, which is the only way to bring down bills for good by ending the UK’s dependency on volatile fossil fuel markets.

To ensure businesses can grow and hire without delay, the government will also deliver a new Connections Accelerator Service to streamline grid access for major investment projects — including prioritising those that create high-quality jobs and deliver significant economic benefits.

We will work closely with the energy sector, local authorities, Welsh and Scottish Governments, trade unions, and industry to design this service, which we expect to begin operating at the end of 2025. New powers in the Planning and Infrastructure Bill, currently before parliament, could also allow the Government to reserve grid capacity for strategically important projects, cutting waiting times and unlocking growth in key sectors.

The Industrial Strategy is a 10-year plan to promote business investment and growth and make it quicker, easier and cheaper to do business in the UK, giving businesses the confidence to invest and create 1.1 million good, well-paid jobs in thriving industries – delivering on this government’s Plan for Change.

Prime Minister Keir Starmer said:

This Industrial Strategy marks a turning point for Britain’s economy and a clear break from the short-termism and sticking plasters of the past.

In an era of global economic instability, it delivers the long term certainty and direction British businesses need to invest, innovate and create good jobs that put more money in people’s pockets as part of the plan for change.

This is how we power Britain’s future - by backing the sectors where we lead, removing the barriers that hold us back, and setting out a clear path to build a stronger economy that works for working people. Our message is clear - Britain is back and open for business.

Chancellor of the Exchequer Rachel Reeves said:

 The UK has some of the most innovative businesses in the world and our Plan for Change has provided them with the stability they need to grow and for more to be created.

Today’s Industrial Strategy builds on that progress with a ten-year plan to slash barriers to investment. It’ll see billions of pounds for investment and cutting-edge tech, ease energy costs, and upskill the nation. It will ensure the industries that make Britain great can thrive. It will boost our economy and create jobs that put more money in people’s pockets.

Business and Trade Secretary Jonathan Reynolds said:

We’ve said from day one Britain is back in business under this government, and the £100 billion of investment we’ve secured in the past year shows our Plan for Change is already delivering for working people.

Our Modern Industrial Strategy will ensure the UK is the best country to invest and do business, delivering economic growth that puts more money in people’s pockets and pays for our NHS, schools and military.

Not only does this Strategy prioritise investment to attract billions for new business sites, cutting-edge research, and better transport links, it will also make our industrial electricity prices more competitive.

Tackling energy costs and fixing skills has been the single biggest ask of us from businesses and the greatest challenge they’ve faced – this government has listened, and now we’re taking the bold action needed. Government and business working hand in hand to make working people better of is what this Government promised and what we will deliver.

Energy Secretary Ed Miliband said: 

For too long high electricity costs have held back British businesses, as a result of our reliance on gas sold on volatile international markets.

As part of our modern industrial strategy we’re unlocking the potential of British industry by slashing industrial electricity prices in key sectors.

We’re also doubling down on our clean power strengths with increased investment in growth industries from offshore wind to nuclear. This will deliver on our clean power mission and Plan for Change to bring down bills for households and businesses for good.

The Supercharger and British Industrial Competitiveness Scheme will be funded through reforms to the energy system. The government is reducing costs within the system to free up funding without raising household bills or taxes and intends to also use additional funds from the strengthening of UK carbon pricing, including as a result of linking with the EU carbon market.

We have set out an intention to link emissions trading systems, as part of our new agreement with the European Union to support British businesses. Without an agreement to do this, British industry would have to pay the EU’s carbon tax.

We intend to link our carbon pricing system with the EU’s, we will ensure that money stays in the UK—which allows us to support British companies and British jobs through these schemes.

Building on the Spending Review and the recently announced 10-Year Infrastructure Strategy, the Industrial Strategy is the latest step forward in our plans to deliver national renewal. It will include targeted support for the areas of the country and economy that have the greatest potential to grow, while introducing reforms that will make it easier for all businesses to get ahead.

The Strategy’s bold plan of action includes:

• Slash electricity costs by up to 25% from 2027 for electricity-intensive manufacturers in our growth sectors and foundational industries in their supply chain, bringing costs more closely in line with other major economies in Europe.
• Unlocking billions in finance for innovative business, especially for SMEs by increasing British Business Bank financial capacity to £25.6 billion, crowding in tens of billions of pounds more in private capital. The includes an additional £4bn for Industrial Strategy Sectors, crowding in billions more in private capital. By investing largely through venture funds, the BBB will back the UK’s most high-growth potential companies.
• Upskilling the nation with an extra £1.2 billion each year for skills by 2028-29, and delivering more opportunities to learn and earn in our high-growth sectors including new short courses in relevant skills funded by the Growth and Skills Levy and skills packages targeted at defence digital and engineering.
• Reducing regulatory burdens by cutting the administrative costs of regulation for business by 25% and reduce the number of regulators. 
• Supporting 5,500 more SMEs to adopt new technology through the Made Smarter programme while centralising government support in one place through the Business Growth Service.
• Boosting R&D spending to £22.6bn per year by 2029-30 to drive innovation across the IS-8, with more than £2bn for AI over the Spending Review, and £2.8bn for advanced manufacturing over the next ten years. This will leverage in billions more from private investors. Regulatory changes will further clear the path for fast-growing industries and innovative products such as biotechnology, AI, and autonomous vehicles.
• Attracting elite global talent to our key sectors, via visa and migration reforms and the new Global Talent Taskforce.
• Deepening economic and industrial collaboration with our partners, building on our Industrial Strategy Partnership with Japan and recent deals with the US, India, and the EU.
• Reducing planning timelines and cutting costs for developers, by hiring more planners, streamlining pre-application requirements and combining environmental obligations, removing burdens on businesses as well as accelerating house building. 
• Revolutionising public procurement and reducing barriers for new entrants and SMEs to bolster domestic competitiveness.
• Supporting the UK’s city regions and clusters by increasing the supply of investible sites through a new £600m Strategic Sites Accelerator, enhanced regional support from the Office for Investment, National Wealth Fund, and British Business Bank, and more.

The plan focuses on 8 sectors where the UK is already strong and there’s potential for faster growth: Advanced Manufacturing, Clean Energy Industries, Creative Industries, Defence, Digital and Technologies, Financial Services, Life Sciences, and Professional and Business Services. Each growth sector has a bespoke 10-year plan that will attract investment, enable growth and create high-quality, well-paid jobs.

Five sector plans have been published today:

• Advanced Manufacturing - Backing our Advanced Manufacturing sector with up to £4.3 billion in funding, including up to £2.8 billion in R&D over the next five years, with the aim of anchoring supply chains in the UK - from increasing vehicle production to 1.35 million, to leading the next generation of technologies for zero emission flight.
• Clean Energy Industries - Doubling investment in Clean Energy Industries by 2035, with Great British Energy helping to build the clean power revolution in Britain with a further £700 million in clean energy supply chains, taking the total funding for the Great British Energy Supply Chain fund to £1 billion.
• Creative Industries - Maximizing the value of our Creative Industries through a £380 million boost for film and TV, video games, advertising and marketing, music and visual and performing arts will improve access to finance for scale-ups and increase R&D, skills and exports.
• Digital and Technologies - Making the UK the European leader for creating and scaling Digital and Technology businesses, with more than £2 billion to drive the AI Action Plan, including a new Sovereign AI Programme, £187 million for training one million young people in tech skills and targeting R&D investment at frontier technologies such as cyber security in Northern Ireland, semiconductors in Wales and quantum technologies in Scotland. 
• Professional and Business Services - Ensuring our Professional and Business Services becomes the world’s most trusted adviser to global industry, revolutionising the sector across the world through adoption of UK-grown AI and working to secure mutual recognition of professional qualifications agreements overseas.  

To find out more click here.

AF Corse team take Ferrari into the history books at Le Mans

The #83 AF Corse team led by Robert Kubica, Yifei Ye and Philip Hanson have fended off the pressure of the factory Ferrari AF Corse cars and seven other manufacturers to win the 2025 24 Hours of Le Mans and in the process have become the first customer team to win the legendary endurance race in 20 years.

The 93rd edition of the 24 Hours of Le Mans has come to an end. A thrilling contest with amazing on-track duels, tactical and strategic battles on the pit wall, with thousands around the circuit and millions at home watching history in the making as Ferrari took a hat-trick of wins at Le Mans - repeating the success they achieved 60 years ago in 1965.

Hypercar

The #83 AF Corse - bright yellow Ferrari 499P has shone brightly in multiple sessions throughout Le Mans week, but they did it when it mattered the most - on race day. Moving into the fight within the first few hours, the customer Ferrari team had to take on the might of the finest from Maranello and Porsche - going toe-to-toe twice around the clock.

While drama hit the rapid #51 car, the #83 stayed out of trouble to become the first customer team since Champion Racing in 2005 to take the biggest prize in sports car racing. Robert Kubica drove the car home to the delight of the passionate crowd, and as he took the chequered flag, the history didn’t stop with AF Corse and Ferrari. Kubica became the first Pole to ever win Le Mans outright. Teammate Yifei Ye became the first driver from China to win the great race, while British driver Philip Hanson in only his second drive in a Hypercar at Le Mans added another win for the British, now taking Great Britain to 46 wins over the last 93 years - the most successful country by driver wins.

Porsche Penske Motorsport were the only outfit to get close to the prancing horses and kept on the coattails all race long, which kept them in with a shout should a mistake come about. That came when the #51 parked itself in the gravel, and a superb job by Kévin Estre, Laurens Vanthoor and in particular Matt Campbell, who triple-stinted the tyres towards the end of the race, which gave Estre a chance of second place. Driving his heart out - the Frenchman brought the car home just 14 seconds behind the leader after 5,361 miles.

2023 winners - the #51 Ferrari AF Corse team had a disaster of a final four hours with a spin coming into the pitlane for Alessandro Pier Guidi dropping them out the lead before Antonio Giovinazzi radioed the team with 45 minutes left on the clock - trying to get to the bottom of a problem with the car. The message from the team - keep driving, keep pushing and destroy the tyres if you need to. This bold call paid off as they were able to fight and pass the sister #50 car to take the final spot on the podium.

Cadillac had high hopes coming into Le Mans this year, and the #12 Hertz Team JOTA effort managed pole position on Thursday evening, but couldn’t convert that single lap raw speed into efficient longer runs with the V8 car struggling to maximise the life of the tyres as well as getting them up to temperature quickly. With cooler conditions in the second half of the race - the golden Cadillac fought hard and smart and finished the race a credible fifth.

LMP2

Having won the 2023 LMP2 class, the yellow and green Inter Europol Competition team were back on the top step in France. The #43 ORECA was embroiled in a titanic tussle with VDS Panis Racing in their number #48 version from yesterday evening when the pole sitter, the #29 TDS Racing outfit were to fall by the wayside early on in the race. The Polish #43 team picked up the baton, an honour they grabbed with both hands, but they weren't going to have it all their own way - as drivers Jakub Smiechowski, Tom Dillmann and Nick Yelloly had to fight for it as they were locked into a battle with the #48 throughout the night and into Sunday morning.

To try and get ahead, Panis Racing undercut the Inter Europol Competition squad and in the process were able to slash the deficit with each stint. There was only a handful of seconds between them until drama struck, with 32 minutes left on the clock. The #43 driven by Nick Yelloly was caught speeding in the pit lane and received a drive-through penalty. Yelloly, despite the drive-through, sensed an opportunity with a poor lap from Panis Racing - the British driver passed the #48 with 15 minutes left on the clock and raced to the flag given the Polish fans even more to cheer about!

LMGT3

The #92 Manthey 1ST Phorm Porsche was the car to beat for the majority of the race in thr GT category. Superlatives are not enough to describe their dominance, as they held the lead of the class to the very end - with drivers Ryan Hardwick, Riccardo Pera and Richard Lietz etching their names into the history books.

In second, the #21 Vista AF Corse Ferrari 296 LMGT3 had a quiet yet effective race - steering clear of trouble, and keeping their heads down. They couldn’t quite match their FIA World Endurance Championship LMGT3 class win last time out at Spa - but second here will help them in the championship chase. 

#81 TF Sport with their yellow Corvette turned on the afterburners this afternoon to wrestle back the final podium spot from the #27 Heart of Racing Aston Martin, a battle they enjoyed all morning long. Meawhile, the dominant #87 Akoddis ASP Lexus - the team and car that topped many of the sessions during the week will be pleased with fifth despite all their race dramas, but at the same time there will be some head scratching to do regarding the one that maybe got away!

Cadillac Powers to First 24 Hours of Le Mans Pole

DAYTONA BEACH, Fla. – Cadillac Racing has sought to present a unified front across its four cars from three teams and two championships – both the FIA World Endurance Championship and IMSA WeatherTech SportsCar Championship. Their pace from all four cars was on display in qualifying for the 2025 24 Hours of Le Mans, with the manufacturer’s new FIA WEC entrant, Cadillac Hertz Team JOTA, sweeping the front row of the grid.

By just 0.167 of a second around the 8.467-mile Circuit de la Sarthe, Alex Lynn beat teammate Earl Bamber to pole. Driving the No. 12 JOTA Cadillac, Lynn set a best time of 3 minutes, 23.166 seconds in the Hyperpole 2 session that showcased the top 10 Hypercar class runners.

Bamber’s best lap was 3 minutes, 23.333 seconds in the No. 38 JOTA Cadillac. He shifts over from his IMSA team, Cadillac Whelen, to JOTA this race. Jack Aitken, Bamber’s IMSA teammate in the No. 311 Cadillac Whelen entry, set the fastest qualifying time in Hyperpole 1 (3 minutes, 22.742 seconds) which determined the 10 cars that advanced to the final qualifying shootout.

Lynn will share his No. 12 JOTA Cadillac with Will Stevens and Norman Nato, while Bamber will share his No. 38 JOTA Cadillac with another IMSA full-timer, Sebastien Bourdais, and 2009 Formula 1 World Champion Jenson Button.

“I think every time you have the opportunity to drive this kind of car around Le Mans on low fuel and new tires is an honor,” Lynn said. “Truly honored to be able to put in a performance and deliver this for Cadillac how they deserve, in the first position. It’s such a magical circuit, a place I love to perform my best. Now just 24 hours left, what else? We’ll enjoy this tonight and reset.”

The pole is the first for Cadillac at Le Mans, coming 75 years after its first Le Mans appearance in 1950 with a pair of Cadillac Coupe DeVille Series 61s, one mostly stock and another modified with a low-profile aluminum body nicknamed “Le Monstre.”

Porsche Penske Motorsport placed well within the Hyperpole 2 session. IMSA regular Mathieu Jaminet qualified the No. 5 Porsche 963 he shares with Michael Christensen and Julien Andlauer in third. In pursuit of the unprecedented single-season endurance “Triple Crown,” Nick Tandy and Felipe Nasr will roll off fifth in the No. 4 Porsche Penske Motorsport Porsche 963 they share with Pascal Wehrlein.

They sandwiched four-time 2025 IMSA Grand Touring Prototype (GTP) polesitter Dries Vanthoor in his No. 15 BMW M Team WRT BMW M Hybrid V8 in fourth; the younger Vanthoor brother shares his car with Kevin Magnussen and Raffaele Marciello.

Aitken’s co-driver Felipe Drugovich qualified the No. 311 Cadillac Whelen entry in eighth. Both that car and the sister No. 101 Cadillac Wayne Taylor Racing entry, which qualified 14th for its Le Mans debut, will feature a special decal at Le Mans supporting the Michael J. Fox Foundation in the race to a cure for Parkinson’s disease.

Pre-race favorites Ferrari and Toyota struggled in qualifying, with the best Ferrari in sixth and the best Toyota in 10th. Ferrari seeks its third straight overall Le Mans win while Toyota, which won five Le Mans consecutively from 2018 to 2022, seeks to add its sixth.

Malcolm Wilson Obe Appointed Deputy President For Sport At FIA Annual Conference In Macau

Malcolm Wilson is a long-serving Council member of the MIA. He brings a lifetime of success in international motorsport and exceptional experience in the industry to our Association. 

Following nomination of Mr Wilson by FIA President Mohammed Ben Sulayem in April 2025, the appointment was voted through today by FIA Member Clubs at the Extraordinary General Assemblies in Macau. An overwhelming majority of voters were in favour of electing Mr Wilson into the position. 

Malcolm Wilson OBE is a leading figure in British motor sport. He is the Managing Director of M-Sport Ltd which has operated Ford’s World Rally programme since 1997. Prior to forming M-Sport, Mr Wilson was a highly successful rally driver, having won the British Rally in 1994. He is also an Honorary Member of the British Racing Drivers Club. In 2009, Mr Wilson was awarded an OBE for services to motor sport in the Queen’s birthday honours list.

Under Mr Wilson’s leadership M-Sport has had considerable success including winning the FIA World Rally Championship for Manufacturers in 2006 and 2007. In 2017 they won the Manufacturers’ crown for a third time, and back-to-back Driver and Co-driver Championships in 2017 and 2018. Mr Wilson also worked as technical partners for Bentley Motors leading the design and development of the Continental GT3 race car and in electric motor sport for Jaguar in the I‑PACE eTROPHY.

The Deputy President for Sport is one of the most senior elected roles at the FIA serving on the World Motor Sport Council and has a wide range of responsibilities including developing global motor sport policies in collaboration with FIA Commissions and national sporting authorities and promoting safety, sustainability and innovation within the sport.  

FIA President, Mohammed Ben Sulayem, said: “The role of Deputy President for Sport is absolutely integral to our organisation, and one that Malcolm Wilson brings a wealth of experience to. Having competed for over 40 years at the highest level, both as a driver and technical partner to teams, his expertise will be invaluable to the FIA and our Member Organisations. I am delighted to welcome Malcolm to the Federation and look forward to working with him to grow motorsport at every level.” 

Malcom Wilson OBE said: “I am delighted to take on the role as FIA Deputy President for Sport. As the Federation pushes forward with its mission to advance motorsport and develop grassroots initiatives, I look forward to playing a part in helping to shape the future of the sport we love and working with the President to continue growing and strengthening our championships.”
To find out more click here.

Paragon Rapid Technologies - Carbon Open Day

On Thursday 3rd July, Paragon Rapid Technologies will be opening the doors to their Digital Light Synthesis (DLS) facility for an exclusive event in partnership with Carbon. The day will feature live demonstrations, technical presentations, and an exclusive launch of Carbon’s newest Pro and Pro-90 materials — offering guests a first-hand look at the latest innovation in additive manufacturing.

The event will run from 10:00 AM to 2:00 PM and is completely free to attend. After the main session, guests will also have the opportunity to take a guided tour of the wider Paragon Rapid Technologies facility, enjoy refreshments, and network with fellow industry professionals.

Paragon Rapid Technologies currently support a broad range of clients across the automotive sector — from prestige niche vehicle manufacturers to motorsport and F1 teams — utilising Carbon's DLS technology for both prototyping and production applications. 

To register for the event click here.

Hydrogen Day – The Full Value Chain in One Place

Join the Hydrogen Day on July 16th at WMG / University of Warwick for a powerful deep dive into hydrogen’s role in the clean energy transition. Hosted by AVL and APRL, this event brings together industry leaders, innovators, and experts to explore every link in the hydrogen value chain—from production and storage to distribution, infrastructure, and mobility.

Expect big ideas, cutting-edge technology, and inspiring discussions on policy, innovation, efficiency, and real-world applications. Whether you're interested in fuel cells, hydrogen ICE, urban infrastructure, or advanced testing methodologies, this event delivers high-impact insights and hands-on learning. Plus, exclusive APRL tours offer a rare behind-the-scenes look.

Let’s connect, debate, and decarbonize—because the future of clean energy is here, and hydrogen is leading the way.

Don’t miss out!

For more details, visit https://www.avl.com/en-gb/events/avl-hydrogen-tech-day

Silverstone Park Launches Women's Innovation Network 

Silverstone Park continues to lead industry innovation with the successful launch of our Women's Innovation Network – addressing the engineering sector's greatest challenge.

Silverstone Park is proud to announce the successful launch of Silverstone Park's Women's Innovation Network (WIN) on 3rd June – a strategic initiative positioning our community at the forefront of solving critical talent and leadership challenges across technology, engineering and innovation sectors.

The business case is clear: companies with gender-diverse leadership teams are 25% more likely to experience above-average profitability. Yet with women comprising just 16.5% of the workforce in these sectors, the opportunity for competitive advantage remains vast.

Watch the full launch event: Here

WIN represents sustainable business growth through diversity, innovation and leadership development. The launch event brought together industry leaders and change-makers, highlighting how Silverstone Park companies actively address real-world challenges that impact performance. 

"WIN isn't just about networking – it's about creating pathways for women to reach senior positions where they can shape the future of innovation," said Chantal-Lawren Welch, Marketing Manager at Silverstone Park.

For businesses considering Silverstone Park, WIN showcases the unique value proposition: world-class facilities combined with active support for your competitive advantage through talent development and leadership diversity.

Join a business community that's building the future.

Helix appoints Graham Belgum as Chief Executive Officer

• Graham Belgum joins Helix as CEO, succeeding co-founder Darren Cairns who will continue in a senior advisory role
• Belgum brings extensive experience in electrification, including leadership roles at Fortescue Zero, First Group, and Hinduja Group
• Appointment effective from 2 June 2025             

Milton Keynes, UK, [09.06.2025] – Helix (a trading name of Integral Powertrain Ltd), the UK manufacturer of the world’s most power-dense electric motors and inverters, has appointed Graham Belgum as CEO to lead the business as it enters the next phase of its global expansion. 

Belgum is a chartered engineer and brings an extraordinary wealth of experience to Helix, with a particular focus on bringing new electric vehicles to market.

He joins the company after three years at Fortescue Zero (formerly Williams Advanced Engineering), where he served as General Manager for Heavy Industry, responsible for the creation of a new capability to develop and industrialise modular battery power systems for off-road applications, including mining.

Prior to this, Belgum was President and then CEO of Optare, where he led their electrification program and laid the foundation for its rebrand to Switch Mobility. Preceding this, he served in senior leadership roles at Condor Ferries and First Group UK. Before entering the private sector, Belgum served in the British Army, where he was overall engineering manager for the Challenger Main Battle Tank fleet.

Outgoing CEO and company co-founder, Darren Cairns, is stepping down 27 years after co-founding the business. He will remain an active part of Helix, working in an advisory role alongside Belgum. 

Graham Belgum, Chief Executive Officer at Helix, said: “I’m thrilled to be joining Helix at this truly exciting time. With its exceptional offering of innovative electric propulsion and control solutions across a wide range of sectors – including automotive, aerospace, marine and defence – the company is perfectly placed as we accelerate our growth across the globe. I also want to pay tribute to Darren, whose hard work and dedication over the past three decades has helped cement Helix’s status as a pioneer and market leader.”

Darren Cairns, Outgoing Chief Executive Officer at Helix, added: “As one of Helix’s founders, this company has been an integral part of my professional life, and I’m incredibly proud of the success we've achieved together. However, I’m certain Graham is the right person to lead this business and know that Helix will continue to thrive under his leadership. This is an exciting new era for Helix and I am extremely positive about what lies ahead.”

Already this year, Helix has made several key senior management appointments, including Warren Roberts as Chief Operating Officer and Dr. Mike Bolen as the company’s Sales Director for North America. 

Helix’s global headquarters and state-of-the-art production facility are based in Milton Keynes, UK. The company is a leading supplier of high-performance electric powertrains, including fully scalable high-power-density electric motors, inverters, and electric drive units, engineered and manufactured in-house.

Its technologies have already been applied in several high-growth electric mobility markets, including top-level motorsport in Formula E; within hypercars and supercars such as the Czinger 21c an Aston Martin Valkyrie; vertical take-off and landing aircraft; space launch providers; high-performance motorcycles; and watercraft with Seabird technologies in the E1 Race Series, and the MAGIC CARPET-e high-performance sailing yacht.

To find out more click here.

Transformative £86 billion boost to science and tech to turbocharge economy, with regions backed to take cutting-edge research into own hands

• £86 billion to fund everything from new drug treatments and longer lasting batteries to new AI breakthroughs to generate billions for the UK economy and drive our Plan for Change
• includes up to £500 million for regions across the UK, with local leaders part of decision making
• announcement comes ahead of next week’s Spending Review, where the Chancellor will make clear that investing in Britain’s renewal will deliver change for working people and their communities

Chancellor Rachel Reeves will announce a transformative £86 billion in the Spending Review to turbo-charge our fastest growing sectors, from tech and life sciences, to advanced manufacturing and defence, as part of the government’s plan to invest in Britain’s renewal through our Modern Industrial Strategy.

Britain will boost its world-leading status in research and innovation with a bumper funding package worth more than £22.5 billion a year in 2029/2030. From exploring new drug treatments and longer lasting batteries, to new AI breakthroughs, the package will drive new jobs and economic growth as well as ensuring the UK leads the way in pioneering the technologies of the future.

It comes ahead of the Spending Review, where the Chancellor will set out how the government will invest in Britain’s renewal by investing in the people’s priorities: health, security and the economy. The Chancellor will outline this government’s laser focus on investing in Britain’s renewal through projects that will bring jobs and prosperity, putting more money in working people’s pockets.

The new R&D package will mean local leaders have government backing to develop ‘innovation clusters’ across the country, to unlock the talent and opportunity in every region and nation.

It is those with skin in the game who know what is best for their region. That’s why, through the new Local Innovation Partnerships Fund, local leaders will be given the powers to decide how to target their research investment in the region and make the most of skill sets of the community, boosting high skilled jobs and igniting growth across the country, the core mission of the government’s Plan for Change.

The package will see every corner of the country benefit. In Liverpool, that means leveraging its expertise in life sciences to accelerate drug discovery, in Northern Ireland that means harnessing its reputation for cutting edge defence equipment to shore up our national security. And in South Wales, it means boosting expertise in designing cutting edge semiconductors that power the devices like mobile phones and electric cars we rely on every day to support growth and new jobs in those regions. 

The new funding will build on work already underway to transform local communities through the Innovation Accelerator pilot scheme – a new funding approach and partnership between local authorities and government. It has supported new technology developed by the Greater Manchester advanced diagnostic accelerator, delivering quicker and cheaper detection for liver, heart and lung diseases, whilst Moonbility from the West Midlands is using AI software helping train companies to simulate, in real time, potential disruption to the network so they can alert passengers on delay length, giving advice on replanning journeys.

This government is making investments in Britain’s future that will deliver dividends for decades to come. Every £1 invested in R&D generates up to £7 in benefits to the UK economy and leverages double in private investment in the long run, with businesses that receive their first R&D grant funding seeing jobs and turnover go up by over 20% in the following years – providing a major boost to the UK economy. R&D is also at the heart of around 3 million jobs in the UK, with the power to create many more as discoveries advance. 

The announcement comes ahead of London Tech Week, the UK’s flagship technology festival, with more expected in the coming days, as this government doubles down on plans to ensure the UK is once again open for business and setting the conditions for a decade of national renewal and the economic growth that is at the heart of our Plan for Change.

Chancellor of the Exchequer Rachel Reeves said: 

Britain is the home of science and technology. Through the Plan for Change, we are investing in Britain’s renewal to create jobs, protect our security against foreign threats and make working families better off.

Science and Technology Secretary, Peter Kyle, said:

R&D is the very foundation of the breakthroughs that make our lives easier and healthier – from new medicines enabling us to live longer, more fulfilled lives to developments in AI giving us time back, from easing our train journeys through to creating the technology we need to protect our planet from climate change.

Incredible and ambitious research goes on in every corner of our country, from Liverpool to Inverness, Swansea to Belfast, which is why empowering regions to harness local expertise and skills for all of our benefit is at the heart of this new funding – helping to deliver the economic growth at the centre of our Plan for Change.

Alongside this, nearly £5 million is being invested to kickstart a new partnership between the high-growth regions of Manchester and Cambridge, strengthening the link between these hubs of innovation to attract more business investment, and pilot new approaches to collaboration, setting examples for cities, universities and governments worldwide.

Richard Parker, Mayor of the West Midlands, said:

This is exactly how we turn our potential into progress. This investment backs regions to lead the way in the industries that will define the future.

From life sciences and advanced manufacturing to clean energy and AI, regions across the UK have the skills and the ideas - they just need the investment and the power to match.

This will drive innovation that not only grows the economy but creates jobs, builds opportunity, improves health and changes lives.

North East Mayor Kim McGuinness said:

Our region is already an advanced manufacturing powerhouse and this announcement boosts my mission to create new growth, new jobs and new opportunities in 2 exciting ways.

We will now be able to support more research and development projects in established sectors, like the car industry and green energy, which are cornerstones of the North East economy, and we can also invest in new technologies from kitchen table innovations to our fast-emerging trailblazers in the space industry and AI.

To find out more click here.