Jaguar Land Rover owner Tata will unveil plans to manufacture its flagship electric car battery factory in the UK, BBC reported. People in the know said that the new plant in Somerset will be officially on Wednesday, adding that the government is offering subsidies worth hundreds of millions of pounds.
The Gigafactory follows talks with the government on the level of financial support the Tata Group would receive in return for the investment. It will be one of the most significant investments in UK automotive for decades.
The investment is slated to create 9,000 jobs in the region, with industry insiders hopeful that this will encourage further battery investments in the UK.
Tata Group did consider a rival site in Spain for the battery plant. Its decision to choose the UK is likely to be viewed as a big win for Britain by the government.