The $5 billion investment will look to meet half of the region's demand for EV batteries by 2030.
The hub of globally popular ICE brands like Bentley, Mini, Aston Martin, and Vauxhall, the UK is also home to 100,000 jobs associated with this sector of automobiles. A rapid transition to EVs has meant that the UK has struggled to find replacements for these jobs, especially after snapping ties with the European Union.
In a strategy of "de-risking," car makers are ensuring that they retain the market shares in their home markets during this transition before seeking to compete in foreign markets. The UK has also set a 2030 deadline for the sale of ICE vehicles, and the 40 GW production capacity could cater to nearly half of the country's estimated battery needs then.During the unveiling of plans last week, the Tata Group did not reveal where the plant would be set up.reported that the government has committed to providing 500 million pounds worth of subsidies to support a move that will create 4,000 jobs.
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