Tata Group Sets New Milestone with 42,000 Cr+ Investment in UK to Establish EV Battery Plant: Comprehensive Insight Revealed

Tata Group today announced that it will set up an EV battery plant in the United Kingdom. The group will invest over 42,000 crore (£4 billion) in EV battery production, and supply to Tata Motors and Jaguar Land Rover initially. Battery supplies will commence from 2026, confirms the brand.
The EV battery plant will have a 40GW capacity to supply around half a million EVs annually. The company’s growth plans for its flexible manufacturing capacity will begin with a rapid ramp-up phase and the start of production in 2026.

N. Chandrasekaran, Chairman of Tata Sons said, “The Tata Group will be setting up one of Europe’s largest battery cell manufacturing facilities in the UK. Our multi-billion pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector’s transition to electric mobility, anchored by our own business, Jaguar Land Rover.”
He added, “With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive. I also want to thank His Majesty’s Government, which has worked so closely with us to enable this investment.”
Tata Group is yet to confirm the location of the EV battery manufacturing plant in the UK. The brand is planning to maximise its renewable energy mix, targeting 100 percent ‘clean’ power. Additionally, the company said that the plant will employ battery recycling to recover and reuse all the original raw materials to deliver a circular economy ecosystem.

Tata Motors EV sales to double this year: All-new electric SUV launch in 2023 end | TOI Auto

Commenting on the Tata Group’s announcement, Rishi Sunak, UK Prime Minister said, “Tata group’s decision to build their new gigafactory here in the UK – their first outside of India – is a huge vote of confidence in Britain.”
“It will not only create thousands of skilled jobs for Britons around the country, but it will also strengthen our lead in the global transition to electric vehicles, helping to grow our economy in clean industries of the future, says Rishi Sunak.

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Swift Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – swifttelecast.com. The content will be deleted within 24 hours.

Leave a Comment