Business
India’s Tata Group picks Britain for new $5.2 bln EV battery plant
India’s Tata will build an electric vehicle battery plant in Britain, the company and the government said on Wednesday, in a major boost for a car industry in need of domestic battery production to help secure its long-term future.
The company said the factory includes an investment of 4 billion pounds ($5.2 billion). Britain’s government declined to immediately detail what support it had provided as part of the deal.
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“Tata Group’s multi-billion-pound investment in a new battery factory in the UK is testament to the strength of our car manufacturing industry and its skilled workers,” British Prime Minister Rishi Sunak said in the statement.
The government said the factory would create up to 4,000 jobs, with further jobs expected to be created in the supply chain.
Read more: India’s Tata Motors raises $1 bln from TPG, ADQ for electric vehicle business