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Vince Cable hails BMW's £250m for 'success story' Mini

9 July 2012 Last updated at 13:01 BST

The German car manufacturer, BMW, is to invest £250m in its UK factories over the next three years.

The money will be used to increase production of the Mini at its factories in Oxford, Birmingham and Swindon.

Speaking in Southampton, Business Secretary Vince Cable said the Mini is ''a great British success story".

''This emphasis on world trade and business investment through top global companies is the way forward," he added.