Tata Group, on Wednesday, announced its plan to setup its first gigafactory outside India. The country’s largest conglomerate chose United Kingdom to build the factory with an investment of 4 billion pounds.
UK Prime Minister hailed it as “incredibly proud” moment for the country’s automotive industry and said that the factory will create thousands of highly-skilled UK jobs.
In the series of his Instagram Stories, the PM wrote, “Today, Tata Companies, parent company to Jaguar Land Rover, announced one of the largest ever investment in the British auto manufacturing industry.” He also shared a picture with Tata Sons Chairman N Chandrasekaran and further added that at 4 billion pounds of investment in electric vehicles, UK will have one of the largest gigafactories in all Europe.
Sunak met Chandrasekaran at The Jaguar Land Rover Gaydon Centre, in Warwickshire, Britain.
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It is expected that the gigafactory will create up to 4,000 new jobs in Somerset area, where it will be located. The production is expected to start in 2026, according to the Tata Group.
The investment in UK comes at a crucial time when the nation is in race to build green industries, in order to cope up with the United States and European countries. Apart from UK, Spain was also in race to bag the investment.
As per a report by BBC, the government will provide subsidies worth hundred of millions of pounds to Tata.