A new production facility for electric-motor manufacturer (and University of Oxford spin-out YASA) was officially opened earlier this month at the Oxford Industrial Park in Yarnton by Business Secretary Greg Clark.

The company has said it will build up to 100,000 motors a year for hybrid and electric vehicles at this facility and create 150 jobs. It aims to export 80% of its output to markets around the world, including China.

According to the Business Department, the company is working with companies like Jaguar and Williams to give vehicles the “speed of a Bugatti Veyron but the emissions of a Toyota Prius”.

YASA (www.yasa.com) CEO Chris Harris said: “YASA is a great example of what the UK can expect to achieve, if we invest in the innovative and creative ideas emerging from our best universities — and have the determination and patience to turn those ideas into world-beating companies.

“With the right support and investment, companies like YASA can become the powerhouse of the UK’s economy, creating a wide range of skilled jobs and benefiting the communities of which they are a part.”

Mr Clark also announced a Government investment of £184 million for 41 UK universities to help train the next generation of engineers and scientists.

This follows the launch of the Government’s Year of Engineering campaign.