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Jaguar Land Rover owner’s investment in UK electric vehicle battery plant ‘very welcome’ business news, says Labor MP

A decision by the owners of Jaguar Land Rover (JLR) to invest in electric vehicle battery production in the UK is “very welcome”, a Labor MP has said.

Darren Jones, head of the cross-party business and trade committee, was responding to reports that Tata Motors is to build a battery gigafactory in Somerset for its JLR operation, potentially creating thousands of jobs.

He added: “However, we would like to consider the subsidy package that was required to secure this decision and if this approach would allow other car companies across the UK to meet the need for more battery manufacturing sites. is expandable.”

Shadow Business Secretary Jonathan Reynolds MP added that the Labor government would invest in eight gigafactories, which are planned to provide “80,000 extra jobs” for the car industry.

The Gigafactory, which is expected to be formally announced on Wednesday, will be an investment Tata will receive after negotiating the level of financial support with the government.

Britain’s high energy prices were seen as an obstacle that could kill a deal.

The India-based firm was reportedly considering a location in Spain as an alternative.

Neither the company nor the government has yet commented.

The decision, if confirmed, marks a breakthrough in the race to secure domestic battery production before 2030 as part of a battle against the U.S. to phase out petrol and diesel-powered cars. is ready to ban the sale of Climate change.

The journey till date has been surrounded by many setbacks, including the demise of the battery startup. British Volt earlier this year.

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UK battery industry ‘ruined by government’

While Nissan is building a battery production facility in Sunderland, it has warned that electricity prices continue to be at risk.

Other challenges include the lack of public charging infrastructure and currently higher prices for electric vehicles than their conventionally powered counterparts.

Industry across Europe is also worried about the 10 percent Tariff is being implemented – Making electric vehicles more expensive.

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A British battery maker is considering a US move.

The so-called rules of origin contained in Brexit trade arrangements state that 45% of the value of an EV must originate in the EU or the UK from 2024 to avoid the charge.

EU and UK officials have held preliminary talks on possibly extending the 2024 deadline to help both sides.

It is the expensive battery element of the vehicle’s origin that is the biggest concern as production is currently dominated by Asia.

Britain is already home to the majority of JLR’s production and its research and development operations, and the gigafactory will cement a gap in its UK supply chain.

Colin Walker, head of transport at the Energy and Climate Intelligence Unit, said of the deal: “Building this battery factory is vital if the UK car industry is to keep up with the times, employing tens of thousands of people. And to generate billions in export revenue.

Source by [Sky News]



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