Tag Archives: Economic

Cars

10 Of The Most Luxurious Classic American Cars

Following the post-war period, there was a continuous increase in economic prosperity across the country, resulting in more consumers able to afford luxury goods. In response, auto manufacturers, such as Lincoln, began producing cars specifically targeted at high-end buyers, such as the ultra-exclusive Continental Mark II.

The Continental Mark II was distinct from the regular Lincoln branding and was produced in its own dedicated facility, known as the Continental Division. This division comprised the most skilled designers and engineers within the company, tasked with creating a vehicle that exuded the glamour of the 1940s Lincoln Continental. The resulting car not only paid homage to its predecessor but also boasted a fresh, sleek, and elegant design. Weighing over 4,800 pounds, the car was equipped with a powerful 368 V8 engine, delivering 300 horsepower and reaching a top speed of 115 mph.

The level of craftsmanship and quality was exceptional, with precision in every detail. From the tightening of nuts and bolts to the application of the paint, every aspect was meticulously executed. The interior was equally impressive, featuring luxurious amenities such as power windows, brakes, and seats, as well as zoned heating. However, despite the unparalleled luxury, the Continental Mark II was discontinued after only two model years due to its exorbitant price, which rivaled that of a contemporary Rolls-Royce.

BMW

Celebrating 50 years: BMW Group announces electrification of Plant Rosslyn, South Africa

  • South African plant will serve as a model for social, environmental, and economic sustainability
  • BMW Group invests 4.2 billion rand (over 200 million euros) in electrification of Plant Rosslyn
  • Nedeljković: “Starting from 2024, the next-generation BMW X3 will be produced in South Africa as a plug-in hybrid for global export.”
  • 1.5 million euros will be donated to UNICEF to support young people in South Africa

Rosslyn (South Africa). Fifty years ago, the BMW Group established its first foreign facility at Plant Rosslyn. Since then, it has become an integral part of the global production network. To commemorate its 50th anniversary, Milan Nedeljković, BMW AG Board Member for Production, has announced that Plant Rosslyn will be electrified. During an event in South Africa, he stated, “Starting from 2024, we will manufacture the BMW X3 as a plug-in hybrid in South Africa for global export. An investment of 4.2 billion rand (over 200 million euros) will prepare Plant Rosslyn for electromobility.” This investment will also include specialized training for over 300 employees at the plant.

The investment announcement aligns with the BMW Group’s global iFACTORY master plan, which focuses on advancing the development of efficient, digitalized, and resource-friendly production. Plant Rosslyn has already produced over 1.6 million vehicles and exported them to more than 40 countries worldwide, including 14 African nations. Throughout its history, the plant has manufactured various BMW models such as the BMW 1800 SA, BMW 2000 SA, BMW 5 Series, and BMW 7 Series. It has been producing the popular BMW X3 since 2018, marking a significant milestone in BMW’s globalization efforts. Currently, the BMW Group sells vehicles in more than 140 countries and operates manufacturing facilities in 15 locations.

Nedeljković, who is also the Chairman of the Board of Management of BMW South Africa, emphasized that the BMW Group’s impact in the country extends beyond car production: “In South Africa, we haven’t just established a plant that provides employment and contributes to the country’s industrialization; for the past 50 years, we have also demonstrated our commitment to social responsibility.” As part of this commitment, the BMW Group announced a donation of over 1.5 million euros to support a program run by UNICEF. Together with UNICEF, the BMW Group will promote the teaching of science, technology, engineering, arts, and mathematics (STEAM) to thousands of children and young people in South Africa.

The BMW Group also places great importance on resource conservation. Since 2015, Plant Rosslyn has been using energy from a nearby biogas plant (Bio2Watt), significantly reducing its CO2 emissions. The plant also collaborates with various organizations to ensure that its waste is recycled and not disposed of. For instance, in partnership with Envirolite, Plant Rosslyn repurposes scrap polystyrene as a building material, resulting in the construction of more than 650 low-cost houses since the project’s inception two years ago.

Furthermore, South Africa plays a pivotal role as a market for BMW Group’s innovations. In addition to the plant, the company has opened offices in South Africa for its global IT hub, employing around 2,000 staff who provide global IT services. Due to the market’s unique characteristics, South Africa serves as an ideal location for piloting innovations. In 2020, the BMW Group conducted a pilot project for direct sales with trading partners in South Africa, gaining valuable experience and striving to offer the best premium customer experience in the industry.

* UNICEF does not endorse any company, brand, product, or service.

RollsRoyce

£4BN FOR ‘UK PLC’: ROLLS-ROYCE MOTOR CARS – THE GREAT BRITISH SUCCESS STORY

  • Rolls-Royce Motor Cars unveils results of landmark Economic Impact Analysis
  • Total contribution to the UK economy since 2003 stands at more than £4 billion
  • Annual contribution to economy now exceeds half a billion pounds Sterling
  • Rolls-Royce is one of the largest employers in West Sussex, supporting 2,500+ full-time equivalent jobs
  • A further 7,500 jobs are supported in the wider supply chain
  • Major intangible and spill-over economic and community benefits
  • Includes training and education, knowledge and skills transfer within supplier companies and support for local charities and social enterprise
  • Independent study undertaken by London School of Economics (LSE)


“Rolls-Royce Motor Cars is a Great British success story. As we mark 20 years of production at our Home in Goodwood, we do so in the knowledge that not only have we produced some of the world’s most significant super-luxury products, we have also made a major economic contribution to the English county we are based in and, crucially, ‘UK PLC’. Today, I am delighted to unveil the exceptional results of the first ever independent survey of our company’s economic impact locally in Chichester, in the surrounding area and nationally. Conducted for us by the London School of Economics, the study confirms that Rolls-Royce Motor Cars is a major economic contributor and one of the largest employers in West Sussex. As the nation enters a new era with the coronation of His Majesty King Charles III, we are proud to represent the very best of British excellence and endeavour. Through our rare crafts and craftsmanship, international customer base and products admired and cherished worldwide, we are sustaining thousands of skilled jobs and playing a key role in promoting the UK’s reputation as a hub of creativity and innovation.”
 Torsten Müller-Ötvös, Chief Executive Officer, Rolls-Royce Motor Cars

“Rolls-Royce Motor Cars represents some of the very best of British design and manufacturing, and the Goodwood success story has been a proud part of Chichester and West Sussex’s heritage and local economy.

We’ve seen a whole generation of quality jobs and cutting-edge skills created over the past 20 years, and I can’t wait to see what the next 20 will hold as Rolls-Royce continues to expand and grow.”
The Rt Hon Gillian Keegan, Member of Parliament, Chichester

As Rolls-Royce Motor Cars marks two decades of production at Goodwood, a landmark survey reveals the company’s full and extraordinary impact on both the local and national economies.

The independent study, the first commissioned by Rolls-Royce in its history, was led by Dr Alexander Grous of the London School of Economics & Political Science (LSE) and includes figures up to and including 2022. Furthermore, this study is clear proof that, by putting exceptional products into the hands of the world’s most influential people, Great Britain secures its place as a centre of design, craft and engineering excellence on the world stage and, by extension, the nation benefits.

OVERALL ECONOMIC CONTRIBUTION
The LSE report shows that since production began at Goodwood in 2003, Rolls-Royce has contributed more than £4 billion to the UK economy, serving as a flagship of the nation’s luxury and automotive sectors and, crucially, ‘UK PLC’. This contribution is long-term and sustainable. Rolls-Royce invests around £10 million every year in its facilities and operations to support its production, reflected in a series of ‘record years’ peaking to date in 2022 at over 6,000 motor cars sold worldwide. Rolls-Royce is also able to confirm its standing as one of the largest employers in West Sussex, England.

SUPPORTING JOBS LOCALLY AND NATIONALLY
More than 2,500 people are employed at the Home of Rolls-Royce at Goodwood, including 150 jobs created in 2022 alone. The company also supports more than 7,500 additional full-time equivalent (FTE) jobs within its wider national supply chain. Importantly, Rolls-Royce did not make a single redundancy during the Covid-19 pandemic – one of very few UK manufacturers to maintain its workforce entirely intact.

As one of the largest employers in West Sussex, Rolls-Royce Motor Cars has a substantial positive impact on the local economy. Around 20% of its total annual contribution is generated directly within West Sussex and bordering counties, including salaries and wages of staff employed at the Home of Rolls-Royce. In addition, the company also operates its Technology and Logistics Centre (TLC) eight miles away in Bognor Regis, which supports a further 1,000 direct and indirect jobs.

INDIRECT AND INTANGIBLE CONTRIBUTIONS
Rolls-Royce contributes to the local and national knowledge economies through its leading-edge R&D in fields including hardware, software, electrification, digitalisation and vehicle connectivity. These activities are growing rapidly in both scale and importance, with Rolls-Royce committed to all-electric propulsion by the end of 2030.

The LSE study notes that Rolls-Royce encourages significant innovation, development and improvements within its wider supply chain. Many small and medium-sized enterprises (SMEs) have adopted new technologies, processes and practices to meet Rolls-Royce’s exacting requirements, raising standards and boosting competitiveness across a wide swathe of the UK’s manufacturing base.

Rolls-Royce also produces important intangible benefits for the local economy and population. For example, every year it supports more than 100 apprenticeship, graduate and intern positions, in partnership with local further and higher education institutions, leading to well-paid and highly skilled employment opportunities. The company enjoys close ties with surrounding communities: recent projects include developing a dedicated new car park for The March CE Primary School which adjoins the Goodwood site, and supporting local mentoring and work-based initiatives. In addition, employees nominate their House Charity each year, raising significant sums for local good causes.

A CONTINUING SUCCESS STORY
Rolls-Royce Motor Cars has formally announced proposals to expand the Home of Rolls-Royce at Goodwood. It has acquired land to the east of the current site and planning permission will be sought later this year.

The project’s primary objective is to upgrade the manufacturing plant; some facilities and equipment are now 20 years old and require replacement and upgrading. The company is also looking to increase capacity for its Bespoke and Coachbuild operations, as well as preparing for its new generation of electric vehicles. The first customer deliveries of the all-electric super-coupé, Rolls-Royce Spectre, are due in the fourth quarter of 2023: all new Rolls-Royce models will be electric by the end of 2030.

The expansion does not, however, signal any shift in the marque’s fundamental approach or values: Rolls-Royce is not, never has been and never will be a volume-driven business. The new facility will reflect the fact that the marque is no longer simply an automotive manufacturer, but a true luxury house creating the world’s best, most recognised and highly prized Bespoke products.