Tata Group announces it will build its first gigafactory outside of India in Britain with an investment of 4 billion pounds ($5.2 billion), creating up to 4,000 jobs.
LONDON, United Kingdom – India’s Tata Group will build an electric vehicle battery plant in Britain to supply itsfactories, delivering a major boost for a UK car industry in need of domestic battery production to help secure its future.
Prime Minister Rishi Sunak’s government declined to detail the financial support it had promised in order to fend off Spain, which had also lobbied to win the project. The BBC said the government would provide subsidies worth hundreds of millions of pounds to Tata. “Hopefully we’re going to be returning to our peak level car production over the next 5 to 10 years.”
The announcement comes with Britain at a critical stage in free trade talks with India, and Tata Sons Chairman N Chandrasekaran said the plan strengthened the company’s commitment to the UK and thanked the government for working “so closely with us to enable this investment.”Industry figures welcomed the announcement as a lifeline to a sector that otherwise risked being left behind as other countries offer subsidies to support electric carmakers.
Investment minister Johnson said Tesla’s 2019 decision to build its gigafactory in Germany had led the government to decide: “We’re never going to let that happen again.”
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