KATHMANDU: Agratas has received around $510 million in funding from the Government of the United Kingdom to set up an EV battery gigafactory in Somerset, writes Reuters.
The project is supported by the Advanced Propulsion Center. It aims to boost domestic EV battery production and strengthen supply chains for zero-emission vehicles.
Agratas was formed by Tata Group to support EV plans of Tata Motors and Jaguar Land Rover.
The Somerset facility is expected to become the UK’s largest EV battery plant. It will have an annual production capacity of around 40 GWh.
The funding proposal was initiated last year by the Department for Business and Trade. The government has also allocated support to other EV-related R&D and industry projects.
Officials say the investment will help attract more funding, support economic growth, and create jobs in the UK automotive sector.
