Earlier this month Jaguar Land Rover (JLR) announced plans to develop a next-generation all-electric XJ luxury saloon which will be built out of their Castle Bromwich plant in the West Midlands. This emphasised a huge vote of confidence in the UK amidst brexit and the uncertainty of the UK automotive industry which has already seen the likes of Ford and Honda set to close sites next year.
Now, with a £500m guarantee from UK Export Finance, the government’s export credit agency, JLR can focus all their attention on developing electric cars thus, playing a major part in the transition towards electric mobility.
On top of this, we are seeing investment into battery technology such as the £274m allocated to the Faraday Institute, we are hearing commitment towards building giga factories as well as plans to introduce mandatory electric vehicle charge points into all new housing developments - This is good news and we should be excited by it!
Momentum is certainly gathering and it is this sort of commitment and action we need if we are to stand any chance at all of achieving our net-zero carbon goal.
Theresa May has signed off a £500m loan guarantee to Jaguar Land Rover to encourage the car company to build electric cars in the Midlands in one of her last big interventions before leaving Downing Street.