The Society of Motor Manufacturers and Traders (SMMT) reports a 4.1% rise in the UK’s used car market in Q2. As a result, 1.8 million cars were sold, up by 72,583 from last year.
And that is how the increase matches the growth of the new car market and better car availability.
Cornish Lithium gets $67m investment
Cornish Lithium, a key player in energy, gets a $67 million investment. Therefore, The UK Infrastructure Bank and groups like The Energy & Minerals Group and TechMet lead this funding.
Because of that, the UK Infrastructure Bank invests about £24 million to strengthen critical minerals, while EMG adds about £24 million.
These investments boost the UK’s minerals supply chain.
Matter gets $10m investment
Matter, a microplastic filtration company, secures a $10 million investment for eco-friendly laundry solutions. And for that reason, this boost helps scale their tech to capture microplastics in commercial settings. Doing so transforms microplastics from sewage into resources, completing a circular process.
Trifast expands with £50m UK export finance support
Trifast, an industrial fastenings group, grows with a £50 million loan from UK Export Finance (UKEF). For this reason, UKEF aids the UK’s manufacturing sector with £3.5 billion support.
Moreover, the export development guarantee from UKEF aids Trifast’s global expansion through partnerships with HSBC, NatWest, and Citi.
Pragmatic Semiconductor raises £100m
Backed by taxpayers, Pragmatic Semiconductor aims for £100 million for US growth. That is why insufficient UK support drives this move. As a result, the US subsidiary is seeking investments for facilities in the US.