Motor industry representatives are due in London later for talks over the government’s £2.3b support package.
Carmakers and suppliers have yet to receive any funds from the Automotive Assistance Programme, which was announced in January.
The scheme has now been approved by the European Commission and industry figures are due to find out how to apply for loans or guarantees, which are linked to helping firms become greener, more innovative and productive.
A series of carmakers have been forced to announce cost-cutting measures, including reducing production, freezing pay and stockpiling thousands of vehicles, in the face of a sales slump across Europe.
Tony Woodley, joint leader of the Unite union, said the London talks between industry leaders and Business Minister Ian Pearson would bring vital stability to the sector.
“We know the government have some good ideas about how to support manufacturing and the car industry through this recession,” he said.
“Our concern has been to ensure that we get this support, which is desperately needed right through the supply chain, out as fast as is humanly possible.”
Source: BBC News