Wednesday, May 22, 2024
HomeNewsautomobileTata has announced an investment of Rs...

Tata has announced an investment of Rs 42,000 crore in the production of electric vehicle batteries

With the rapid sales of electric vehicles around the world, supply chain shortages may occur if battery production is not ramped up. So practically various car companies themselves have entered the fray in this regard. Tata Group is eager to develop electric vehicle batteries. The Indian company has announced an investment of more than 4 billion pounds or about Rs 42,000 crore to build an EV battery plant in Britain. The batteries manufactured here will initially be supplied to Tata Motors and Jaguar Land Rover. The company has confirmed that it will start from 2026.

Tata group to build electric car battery factory in Britain

The new EV battery factory will have a capacity of 40 GW. So that batteries can be supplied to 5 lakh vehicles annually. The target is set to start production of batteries from 2026. In this context, Tata Sons Chairman N Chandrasekaran said, “The Tata Group will build one of Europe’s largest battery manufacturing plants in Britain. This huge investment of ours will bring world class technology to the country. That will help us and Jaguar Land Rover develop electric cars.”

He added, “This strategic investment will strengthen the Tata Group’s commitment to the UK. Our company deals in Technology, Consumer, Services, Steel, Chemicals and Automotive in that country. I thank the British administration for facilitating this investment.”

However, the Tata group has not yet given any specifics on where the electric vehicle battery manufacturing plant will be set up in Britain. The company is currently planning to focus on expanding renewable energy. It is reported that the battery will be recycled and its raw materials will be reused, so that the wheels of the financial eco-system continue to move.

Meanwhile, British Prime Minister Rishi Sunak commented that this is the first giga factory being built in Britain outside India. He said, “This will not only create employment in the country, but will also help us to lead the electric vehicle market globally. As a result, our economy will grow.”

Team NaxonTech
Team NaxonTech
We believe in the power of storytelling to inform, inspire, and transform perspectives. My journey as a content writer began with a fascination for technology, and I have since diversified my skills to cover a wide array of topics. With a keen eye for detail and a commitment to excellence, I strive to deliver content that not only meets but exceeds expectations.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Web Story

Latest Post