Former Ford Exec to Lead U.K. Auto Investment Push

The British government has named former Ford Motor Co. executive Joe Greenwell as CEO of a new group, the Automotive Investment Organization, which aims to attract investment to Britain's automotive supply chain.

Greenwell retired on April 30 as chairman of Ford's U.K. unit. His Ford career of more than 40 years also included stints as CEO of Jaguar and Land Rover and head of government affairs for Ford of Europe.

U.K auto output, which reached 1.5 million vehicles last year, is growing. But only one-third of the parts in the average vehicle made there is sourced locally.

Industry officials predict Britain will overtake France by 2018 to become Europe's second-largest auto producer after Germany. Last year 1.9 million vehicles were built in France.