Green light for LDV link
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• LDV has cleared the final hurdle in the preparations for its partnership with Daewoo with the European Commission's approval of a £25m grant by the Department of Trade and Industry.
The way is now clear for the £160m development programme for a new joint range of vans from 2.0-3.5 tonnes, with the potential to create 2,000 new UK jobs. LDV is developing the smaller vehicle, codename.d BD100, while work on the larger LD100 is being carried out at Daewoo's Technical Centre at Worthing.
LDV and the Korean industrial giant aim to increase their combined van production to 80,000 units per year by 2005, with up to 75% of LDV's production being exported.
As well as the WV factory in Drews Lane, Birmingham, vans will be built at Daewoo's plant at Lublin in Poland. Both factories will produce the full range of vans, which will be marketed by each company under their own brand names.
A cross-badging agreement will operate for certain world markets.