Britain Close To Securing Major Win With Tata's UK Battery Factory: Report

As per a BBC report, the Tata Group, owner of Jaguar Land Rover, has decided to build a new battery factory in the UK, a move that is expected to significantly boost the country’s electric vehicle (EV) sector. The factory, which will initially supply batteries for a new range of electric Jaguar and Land Rover models, is being seen as a major win for Britain, despite concerns about the scale of subsidies required to secure the investment.

The UK government is reportedly providing subsidies worth hundreds of millions of pounds to support the project. The factory is expected to significantly boost the country’s electric vehicle (EV) sector, which some in the industry have described as the most important investment in UK automotive since Nissan came to Britain in the 1980s.

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However, there are concerns about the scale of the subsidies required to secure the investment. The government has been criticised for lacking a clear industrial strategy and for falling behind the US and EU in attracting investment in low-carbon technologies.

Despite these concerns, the move by Tata is seen as a significant win for Britain. The factory is expected to create thousands of jobs and significantly boost the country’s electric vehicle (EV) sector.

Despite these concerns, the move by Tata is seen as a significant win for Britain. The factory is expected to create thousands of jobs and significantly boost the country’s electric vehicle (EV) sector.

Price Action: Tata Motors shares were up 0.26% to trade at ₹613.70, shortly after the markets opened on Wednesday.

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Posted In: Jaguar Land RoverTata GroupTata Motors