LDV is seeking talks with the Government to discuss the prospect of immediate financial assistance following the extended shutdown of its Washwood Heath plant into February.
As with others in the industry, LDV is struggling to forecast when sustained demand for new vehicles will recommence and losses are presently being incurred due to little or no production and reduced sales.
Guy Jones, PR and marketing director for LDV, said, “LDV and the excellent workforce here have ‘done all the right things’ that the Government has asked.
“We have invested heavily in the company creating 200 new jobs, transforming the skills of our workforce and developing cleaner electric vehicles, but the scale of the downturn has devastated the entire sector. LDV is producing the vans of tomorrow today and we hope the Government recognise and supports such UK innovation.”
LDV is owned by Russian manufacturer GAZ Group, which has invested $100m (£69m) in new technology, models, markets and workforce since it acquired the company in 2006.
LDV stated that Government assistance would be a last resort and it is still exploring all other avenues of support.
This includes preparing an application to the European Investment Bank for funds to continue its investment in green technology, seeking foreign investment, and continuing to pursue an aggressive and innovative marketing strategy to rekindle demand.