Prime Minister Theresa May called for the UK to stay at the forefront of the design and manufacturing of electric vehicles in a meeting of automotive leaders at Downing Street.
Prime Minister Theresa May outlined the government’s commitment to the UK’s automotive sector and called for the UK to stay at the forefront of the design and manufacturing of electric vehicles at a roundtable held at Downing Street today, Monday 15 July.
Speaking at the meeting attended by chief executives, senior leaders and experts in the car and energy industries, she emphasised that this can only be done through a strong partnership between the industry and government.
The meeting is part of wider action from government to support the automotive industry, and the Prime Minister confirmed today that Jaguar Land Rover will receive a £500 million loan guarantee from government export credit agency UK Export Finance. This will support the company’s design and manufacture of the next generation of electric vehicles and its export activities.
The representatives discussed with the Prime Minister that as well as having long term consistent incentives and the right charging infrastructure in place to drive up demand for electric vehicles, the UK should build on its strengths in the development of next generation battery technology.
The UK has already made a major commitment to becoming a world leader in the industry through its £274 million investment in the Faraday Battery Challenge and earlier investments through the Automotive Propulsion Centre. Attendees spoke about how best to build on this and work more closely together to develop the next generation of battery technology, including by supporting small businesses in the electrified supply chain and the building of a Gigafactory – a large-scale battery technology factory for electric vehicles.