India’s Tata Group to invest £4bn in UK battery plant
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India’s Tata Group will build a £4bn ($5.24bn) electric vehicle battery plant in the UK. About it reported in the British government.
The plant, to be built in the southwest of England in Somerset, will produce 40 GWh of batteries. In addition, the enterprise will create about 4,000 jobs, Prime Minister of the Kingdom Rishi Sunak said, quoted by the press service.
“We can be proud that the UK has been chosen as the location for Tata Group’s first gigafactory outside of India, making us one of the most attractive locations for the production of electric vehicles,” said Sunak.
Tata Group is India’s largest conglomerate. The group includes companies in the field of mechanical engineering, energy, chemicals, information technology, etc.
On July 11, Bloomberg wrote that the Indian group could enter into an agreement to buy the plant of the supplier of the American company Apple – the Taiwanese company Wistron – as early as August. It was clarified that the cost of the plant in India is estimated at over $600 million. In April, the agency reported that Apple tripled the production of its iPhone smartphones in India over the year, to more than $7 billion. It was noted that the increase in production was due to the plans of the American company to reduce dependence on China.
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