A deal to build a gigafactory for electric car batteries in the UK is nearing completion, BBC News reports. Behind the investment is Indian car giant Tata Motors, which also owns Jaguar Land Rover.
According to reports, Tata Motors is considering whether to set up its battery factory in England or Spain. But after promises of government subsidies and financial incentives, Britain has emerged as the most viable option.
Tata Motors executives will travel to London next week to finalize the deal, according to BBC News.
If so, the factory will be located in Somerset in South West England. Establishing a battery factory in the country is of great importance to Jaguar Land Rover, which has production in the country and will increase its investments in electrification in the future. Later this year, Jaguar will launch an electric four-door GT coupe.
Car manufacturers in the country have been putting a lot of pressure on the British government to open more battery factories in the country. As a result of Brexit, it is not so easy to take credit for the opening of battery factories in other parts of Europe.
Tesla was also rumored to be interested in setting up a factory in the area two years ago. But it was quiet on that front.
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