Ad
Ad
The UK is set to win the battle of hosting Tata's new car battery manufacturing plant over Spain. The boss of Jaguar Land Rover is expected to visit London next week to confirm this mega deal, says BBC report.
According to a BBC report, the Jaguar Land Rover owner, Tata Motors, is all set to pick the UK over Spain for a multi-billion pound electric car battery plant. The boss of Jaguar Land Rover is expected to fly to London next week to finalize the deal for setting up a car battery manufacturing plant that will give employment to up to 9,000 people directly in Somerset, England.
However, the government officials of the UK refused to comment on this BBC report. The parent company, Tata Sons, also did not reply instantly.
The country's automotive sector employs 8,00,000 people directly and within the supply chain.
According to the BBC's report, this decision by Tata to pick the UK over Spain was a major win for Rishi Sunak's government because the government was pressured to attract major investments from carmakers.
Further, finance minister Jeremy Hunt hinted at this development with a short statement, "Watch this space," when questioned about it at an event.
The UK has already left behind the US and Europe in terms of local manufacturing and promoting EV car manufacturing. Without proper manufacturing facilities, the future of the UK's car industry will be at risk.
Earlier this week, one of the largest car manufacturers, Stellantis, warned the UK that factories would be required to be closed if the government does not negotiate a Brexit deal. This owner company of Vauxhall, Citroen, Fiat, and Peugeot has already announced plans to manufacture electric cars in the UK. However, it was under threat due to post-Brexit rules.
According to a BBC report, this unexpected decision by Tata to set up an EV battery plant in the UK is a costly undertaking. The UK government hasn't specified the figures but has said that the subsidies are in hundreds of millions of pounds.
These subsidies might be in the form of cash grants, energy subsidies, and other R&D funding. The Indian automotive brand, Tata, has a deep interest in the UK, including Port Talbot Plant in South Wales, and the government is expected to offer about £300m of subsidies and other benefits to upgrade these operations. Combining all these benefits, the total incentives given to Tata may come close to £800m.
Based on government sources, these two projects will not be announced at the same time though they are interconnected with each other.
Some investment insiders in the UK also believe that this big investment from Tata, India's largest automotive manufacturer, will open the door to other battery investments in the UK, which only has Nissan's Sunderland factory. The EU has about 35 battery manufacturing plants in construction or planned.
TVS Apache RTR Black Edition Launched: A New Aesthetic Rival in the 160cc Segment
Introducing the TVS Apache RTR Black Edition, the latest contender in the 160cc segment. Unleash its sleek design and impressive features.
17-May-2024 01:43 PM
Read Full NewsTVS Apache RTR Black Edition Launched: A New Aesthetic Rival in the 160cc Segment
Introducing the TVS Apache RTR Black Edition, the latest contender in the 160cc segment. Unleash its sleek design and impressive features.
17-May-2024 01:43 PM
Read Full NewsKia Introduces Lease Program in India- Prices Start At Rs. 22000
Kia has launched a lease program in India, offering customizable lease terms from 24 to 60 months in major cities. Partnering with ORIX, the program eliminates insurance, maintenance, and resale concerns, allowing customers to drive Kia cars without a down payment and upgrade models after the lease term.
17-May-2024 01:12 PM
Read Full NewsKia Introduces Lease Program in India- Prices Start At Rs. 22000
Kia has launched a lease program in India, offering customizable lease terms from 24 to 60 months in major cities. Partnering with ORIX, the program eliminates insurance, maintenance, and resale concerns, allowing customers to drive Kia cars without a down payment and upgrade models after the lease term.
17-May-2024 01:12 PM
Read Full NewsWait For Tata Altroz Racer or Buy Hyundai i20 N Line? Here’s What You Should Know
Tata Motors is gearing up to launch the sportier Altroz Racer, set to rival Hyundai's i20 N Line in India. Both promise unique interiors, modern features, and powerful engines. While the i20 N Line emphasizes a spirited drive, the Altroz Racer may offer affordability and aggressive styling. Pricing starts at around Rs. 9 lakh.
17-May-2024 09:14 AM
Read Full NewsWait For Tata Altroz Racer or Buy Hyundai i20 N Line? Here’s What You Should Know
Tata Motors is gearing up to launch the sportier Altroz Racer, set to rival Hyundai's i20 N Line in India. Both promise unique interiors, modern features, and powerful engines. While the i20 N Line emphasizes a spirited drive, the Altroz Racer may offer affordability and aggressive styling. Pricing starts at around Rs. 9 lakh.
17-May-2024 09:14 AM
Read Full News5 Door Suzuki Jimny Heritage Edition Debuts in Australia; Check Details
The Japanese automaker has unveiled the 5-door Jimny Heritage Edition in Australia, limited to 500 units. It features red and orange decals, a 9-inch touchscreen infotainment system, and advanced safety features. Powered by a 1.5-litre NA petrol engine, it offers 105 PS and 134 Nm of torque, with both manual and automatic transmission options.
17-May-2024 07:11 AM
Read Full News5 Door Suzuki Jimny Heritage Edition Debuts in Australia; Check Details
The Japanese automaker has unveiled the 5-door Jimny Heritage Edition in Australia, limited to 500 units. It features red and orange decals, a 9-inch touchscreen infotainment system, and advanced safety features. Powered by a 1.5-litre NA petrol engine, it offers 105 PS and 134 Nm of torque, with both manual and automatic transmission options.
17-May-2024 07:11 AM
Read Full NewsBMW Introduces X3 M Sport Shadow Edition, Priced at Rs 74.90 Lakh
BMW introduces the X3 M Sport Shadow Edition, priced at Rs 74.90 lakh, boasting sporty enhancements and advanced features. Positioned between existing variants, it promises a blend of performance and luxury.
16-May-2024 12:33 PM
Read Full NewsBMW Introduces X3 M Sport Shadow Edition, Priced at Rs 74.90 Lakh
BMW introduces the X3 M Sport Shadow Edition, priced at Rs 74.90 lakh, boasting sporty enhancements and advanced features. Positioned between existing variants, it promises a blend of performance and luxury.
16-May-2024 12:33 PM
Read Full NewsMahindra XUV 3XO Breaking Records: Over 50,000 Bookings in 60 Minutes | Delivery Begins from 26th May
Look at the record-breaking Mahindra XUV 3XO with over 50,000 bookings in just 60 minutes. Get ready for delivery starting from 26th May!
16-May-2024 11:37 AM
Read Full NewsMahindra XUV 3XO Breaking Records: Over 50,000 Bookings in 60 Minutes | Delivery Begins from 26th May
Look at the record-breaking Mahindra XUV 3XO with over 50,000 bookings in just 60 minutes. Get ready for delivery starting from 26th May!
16-May-2024 11:37 AM
Read Full NewsAd
Ad
Maruti Swift
₹ 6.49 - 9.64 Lakh
Isuzu V-Cross
₹ 21.20 - 30.96 Lakh
BMW M4 Competition
₹ 1.53 Cr
Force Motors Gurkha
₹ 16.75 - 18.00 Lakh
Skoda Kushaq
₹ 11.99 - 20.49 Lakh
Mercedes-Benz AMG S 63
₹ 3.00 Cr
Mercedes-Benz Maybach GLS 2024
₹ 3.00 Cr
Audi A3 2024
₹ 35.00 Lakh
Hyundai Kona Electric 2024
₹ 23.75 Lakh
BMW 5 Series 2024
₹ 70.00 Lakh
Ad
Ad
Ad