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Government Hands £500m Loan Guarantee to Jaguar Land Rover to Develop EV Future
16 Jul 2019
The UK government says it is committed to supporting the automotive sector in reaching the forefront of the design and manufacture of electric vehicles, it was announced at an industry gathering at Downing Street on Monday.
Prime Minister Theresa May promised a £500m loan guarantee to Jaguar Land Rover, which recently announced it was to build the electric Jaguar XJ at their Castle Bromwich plant.
Image: Leon Neal/Getty Images
A green mobility transition board was also set up by representatives from Aston Martin, BMW, Nissan and Vauxhall as well as energy groups BP, Shell and National Grid to help aid a smooth transition from ICE to EV vehicles.
In a LinkedIn post on Monday, Aston Martin CEO Dr Andy Palmer said, “The UK having such a diverse automotive sector has a real opportunity to be world leaders in the development of new powertrain & mobility technologies… Our politicians must be careful not to ‘pick winners’ and instead focus on defining the ‘problem’, allowing us in the industry to develop the appropriate solutions.”
An electric car charge point in all new homes
The government has also revealed plans to fit all new homes with an electric car charge point. The move is designed to remove one of the main barriers to entry for first time EV buyers, making it easier, cheaper and more convenient to charge the vehicles.
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