Tata Group to invest 4 billion Pounds in its first gigafactory outside India, in the UK

Tata to set us gigafactory in UK. Photo Credit: Fortune
Advertisement

India: The Tata Group, India’s largest conglomerate is reaching new hights each day. As per the latest reports, the company has announced that it is all set to plant a new electric vehicle battery plant in Britain. The company made this plan official on Wednesday. This is going to be Tata’s first gigafactory that is not located in India. The move is in line with the aim to give a major boost to the automobile industry, specially car sector. Which is in need of domestic battery production and will further be helpful in long term.

Tata Sons chairman N Chandrasekaran said that he is delighted to reveal the Tata Group will be setting up one of Europe’s largest battery cell manufacturing facilities in the UK. He said “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, JLR. 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.”

Advertisement

4 billion Pounds to be invested

The company also informed that it will be investing billions in the plant. The total investment will be around 4 billion Pounds which is equal to $5.2 billion. This is going to be one of the largest investments that has ever been made in UK automotive sector. The British government revealed that this factory will be contributing to almost half of the battery production requirement by 2030. Moreover, the statement also said “The gigafactory will secure UK-produced batteries for another Tata Sons investment, Jaguar Land Rover, as well as other manufacturers in the UK and Europe.”

United Kingdom Prime Minister Rishi Sunak also talked about Tata group’s decision and expressed that he is proud that the company chose Britain as ‘home’ to set up the upcoming factory. He said that the investment also proves the strength of Britain’s car manufacturing industry and its skilled workers. Further, he mentioned how this will create atleast 4,000 jobs including in the supply chain. However, no statement has been released by the British government over how they will be supportive of the company over this plan.

Advertisement