Ford is today due to announce a £238m investment in its Bridgend engine plant in Wales creating 600 jobs and making the UK the source of a quarter of all its engines.

David Thursfield, chief executive of Ford of Europe and Wolfgang Reitzle, chairman of the Ford Premier Automotive Group, are expected to formally announce the investment at the plant later this morning.

Once development at Bridgend is complete it is expected the plant will produce engines for Jaguar, which Ford owns, as well as other PAG members, Volvo, Aston Martin, Lincoln and Land Rover.

Ford's investment follows a decision to earmark $600m to make Dagenham the centre of the brand's diesel engine production.