A source said India’s Tata will announce on Wednesday that it will develop an electric vehicle(EV) battery plant in Britain, a gain for the country’s automotive industry amid worldwide competition.
Tata was deciding between Somerset, southwest England, and Spain to supply a new range of electric Jaguar and Land Rover vehicles.
Tata and a government representative declined to comment on the report or ongoing business negotiations. Bloomberg originally reported on Tuesday that the plant would be disclosed this week.
Tata, a corporation with operations in software, steel, autos, and airlines, has been rumored to build the factory for months.
The project would help Britain catch up in the worldwide battle to manufacture electric vehicle (EV) battery capacity locally, which automakers need for their massive batteries.
Finance minister Jeremy Hunt highlighted worries about the U.S. Inflation Reduction Act, which provides hundreds of billions of dollars in subsidies to green companies.
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Tata to develop EV as British automakers will need to source more electric vehicle components locally after Brexit to avoid tariffs on UK-EU trade.
After automobile company Stellantis warned that tariffs would force it to close factories and lay off thousands, the government announced it was in negotiations with the EU to ease those regulations.
The BBC stated Tata would receive hundreds of millions of pounds in government subsidies.
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JLR’s investment in UK battery manufacture is encouraging. “We’ll want to reflect on the subsidy package that secured this decision,” said Darren Jones, chair of parliament’s business committee.
Tata’s pick of Britain would support Prime Minister Rishi Sunak’s government, which has committed to grow the economy and set net zero goals like banning new petrol and diesel cars by 2030.
Salamanca Group, a private commercial bank, owns the planned location. Reuters received no response from the group.
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