Ex-Ford Exec Greenwell to Lead U.K. Auto Investment Push

The U.K. government has named former Ford Motor Co. executive Joe Greenwell as CEO of a new group, the Automotive Investment Organization (AIO), 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.

Vince Cable, Britain's Secretary for Business, Innovation and Skills, says that only one-third of the parts in the average vehicle made in the U.K. is sourced locally. Cable is co-chair of the Automotive Council, which will advise the AIO on strategic direction.

Government and industry officials in the country say opportunities for suppliers there are growing. They predict Britain will overtake France by 2018 to become Europe's second-largest auto producer after Germany. Last year 1.5 million cars were built in the U.K. compared with 1.9 million units in France.