Jaguar Land Rover ‘seeks £500m’ from government for new battery factory
Jaguar Land Rover (JLR) has reportedly asked the Government for £500m in state aid to help fund a battery factory which could be based in the South West of England, or in Spain.
A report in the Financial Times says Tata, the Indian conglomerate that owns JLR, is currently weighing up where to build the factory, and that UK ministers have “weeks” to offer support for the plans.
It is understood Tata has asked for the money in the form of grants and support packages such as assistance for energy costs and research funding.
The reports come as Tata chief financial officer PB Balaji announced plans to produce electric vehicle batteries in Europe in January at the Auto Expo 2023 in Delhi.
JLR is in the early stages of ramping up EV production across its range of cars. Currently, the Jaguar I-Pace is the only fully electric vehicle in its range.
