The UK government unveiled what it called an “Advanced Manufacturing Plan” aimed at supporting local job creation and industries, including in battery production.
The new blueprint includes £2 billion ($2.5 billion) in funding for the auto industry, £975 million for aerospace and may create 100,000 new roles in the battery sector, according to a statement. It also builds on recent announcements by Nissan Motor Co, to invest £2 billion to expand its UK electric-vehicle hub and by Tata Motors Ltd. to construct a £4 billion gigafactory in Somerset.
Other key details in the plan:
- Creating a Hydrogen Taskforce to help reach 10 GW of hydrogen production capacity by 2030
- A battery strategy that seeks to invest £50 million to achieve a globally competitive supply chain by 2030
- Building on existing support that ensures energy costs for industries like steel, metals and chemicals remain in line with other major economies