WORLD NEWS | Tata Group expected to pick UK as site for new Jaguar Land Rover battery plant: Report

LONDON, May 24 (PTI) Tata group is expected to pick the UK as the preferred location for a lucrative battery factory to meet demand for its Jaguar Land Rover (JLR), media reported on Wednesday.

It would mark a major investment in Britain’s car industry, with Prime Minister Rishi Sunak’s government keen on ongoing discussions to provide an incentivizing economic environment for the multibillion-pound factory.

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Somerset, in southwestern England, is the expected location of the new gigafactory, which is expected to create 9,000 jobs for the local economy, according to the BBC.

Gigafactory is a general term referring to a facility that mass-produces electric vehicle batteries.

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Sources familiar with the matter told the BBC that although the agreement has not yet been signed, involvement has shifted from negotiating to drafting and orchestrating how the landmark deal will be presented.

At a media event at Jaguar Land Rover’s Gaydon base in England’s West Midlands region last month, Jaguar Land Rover chief executive Adrian Mader told reporters that Tata was well aware that the new Gigafactory would be located in Europe, the final destination has not yet been determined.

“It is important that our foundation [battery] In-house supply…we are the main customer and have absolutely every right to make sure the right decision is made.wherever it is [factory] goes is going to be an optimized proposal for us,” he said.

Spain is reportedly another European country as the location of the highly anticipated Gigafactory.

The yet-to-be-confirmed decision to select Somerset will be seen as a major achievement for the UK government, which is expected to provide millions of pounds in subsidies to attract the major investment to the country’s shores.

Subsidies are expected to come in the form of cash grants, energy subsidies and other training and research funds.

Tata’s wide-ranging steel interests in the UK, although unrelated, are also believed to be in the mix in an industry support package to save the UK and create jobs in a tough economic climate.

Downing Street said it does not comment on commercially sensitive matters.

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)