Tata Group to invest over £4 billion in UK gigafactory
Summary
Prime Minister Rishi Sunak said: “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. “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. With an initial output of 40GWh it will also provide almost half of the battery production that the Faraday Institution estimates the UK will need by 2030. Business and Trade Secretary Kemi Badenoch said: “Today’s multibillion-pound investment demonstrates that this Government has got the right plan when it comes to the automotive sector. Chancellor of the Exchequer Jeremy Hunt said: “This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars. “With thousands of jobs on site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel.”