Tata Group invests £4 billion (₹42,300 crore) in UK Gigafactory

In a significant development for the UK's electric vehicle (EV) industry, Tata has announced its investment of £4 billion (around ₹42,300 crore) in a UK gigafactory. Prime Minister Rishi Sunak emphasised the importance of the gigafactory in establishing the United Kingdom as a global leader in battery technology.

The gigafactory will be critical in meeting the rising demand for car and light commercial vehicle batteries, with projections indicating a need for over 89GWh per year by 2030, amounting to nearly 11 per cent of total demand across Europe. By meeting nearly half of the UK's car battery production needs, the gigafactory will help meet this demand while lowering carbon emissions.

According to the Prime Minister of the UK, the investment demonstrates confidence in the UK auto industry and contributes to the government's economic growth strategy.

The gigafactory's construction is expected to generate a significant number of green-collar jobs. This gigafactory, according to reports, will employ approximately 9000 people.

In addition to meeting domestic demand for electric vehicles, the gigafactory will strengthen the UK's EV supply chain, benefiting industry businesses.

According to Ian Constance, CEO of the Advanced Propulsion Centre (APC), "This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution."