Manufacturing News – Late February 2025
Estimated reading time 2 minutes
The UK subcontract manufacturing market is hoping for a more positive outlook in 2025 following a disappointing 12 months.
According to the latest Contract Manufacturing Index (CMI) data, levels of business were significantly down overall compared to the previous year – falling sharply after the Budget at the end of October. Overall, the market was down 23% on 2023.
After a strong first quarter, coming off the back of a strong end to 2023, the market dipped in the second quarter due to uncertainty in the market over the coming General Election.
Manufacturing businesses across the North East are being encouraged to apply for grant funding and access free expert advice on digital adoption through the newly expanded Made Smarter programme.
Awarded extra funding in last year’s Autumn Budget, Made Smarter supports manufacturing SMEs in the North East Combined Authority and Tees Valley Combined Authority areas to invest in new digital technology and processes to grow their businesses. https://www.qimtek.co.uk/news/engineering-capacity/ne-call-made-smarter
A battery startup in the Midlands has today announced that it will start producing batteries for energy storage and electric vehicles, following a first-of-its-kind technology and knowledge transfer agreement with China’s Far East Battery (FEB).
Under the agreement, Coventry-based Volklec will take advantage of FEB specialists and technology to manufacture advanced lithium-ion batteries in the UK. Production will commence at Volklec’s launch base at the UK Battery Industrialisation Centre (UKBIC) later this year.
Volklec is also planning to build a £1bn 10GWh gigafactory in the UK by 2030, which will create over 1,000 skilled jobs. https://www.themanufacturer.com/articles/volklec-to-produce-advanced-batteries-in-uk-following-chinese-licensing-agreement/
