VAM News Update
Amidst the fuel subsidy removal by the Federal Government of Nigeria, the owner of Jaguar Land Rover has unveiled plans to build an electric car battery factory in the UK.
Tata Motors says it’s planning to invest more than £4bn, with Prime Minister Rishi Sunak declaring that the new plant will create thousands of skilled jobs for Britons across the country.
The deal is the culmination of months of talks with the government over taxpayer subsidies to fend off reported competition for the investment from Spain.
It marks a step in the right direction for UK ministers amid mounting challenges over the transition to electric powertrains, as the clock ticks down to the 2030 ban on the sale of new cars using petrol or diesel.
According to Tata
Group, this marks one of the largest-ever investments in the British automotive sector, and the gigafactory will deliver half of the battery production needed by 2030.
This is the company’s first gigafactory outside of India – and Mr Sunak said it was an “incredibly proud” moment.
“Tata Group’s multibillion-pound investment in a new battery factory in the UK is testament to the strength of our car manufacturing industry and its skilled workers,” the PM added.
“With the global transition to zero emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain.”
The new gigafactory will supply Jaguar Land Rover’s future battery electric models – including the Range Rover, Defender, Discovery and Jaguar brands, with the potential to also supply other car manufacturers.
Production at the new facility is due to start in 2026.
