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Paul Butler, Chief Executive Officer of the North East Automotive Alliance, believes that the IAMP will provide a catalyst for major growth in the automotive sector.

He said: “The North East has developed a strong reputation for manufacturing and is recognised as a global centre of excellence for automotive manufacturing.

It’s a hugely exciting development and one that could deliver the sustainable sector we all want – further good news after the fantastic announcement from Nissan last week.”For now, it seems, the North East's automotive sector is well and truly back in the fast lane.

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“I have no doubt that this announcement will provide a springboard for the future growth and expansion of the North East automotive sector, which already generated £11billion of sales for the region and employs over 30,000 people directly.