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Hi-Tech / Hardware

The UK government has allocated £500 million to support production of electric cars Jaguar Land Rover

3DNews - all the news of the site 17.07.2019 at 14:38

3DNews - all the news of the site

The UK Government continues to support local manufacturers of vehicles that run on electricity. Reportedly network sources, Jaguar Land Rover will receive a credit in the amount of £500 million, which is approximately $620 million it is Expected that this amount will help the company to strengthen its position as one of the world's manufacturers of electric cars. Thus, in case of default, Jaguar Land Rover, the government will assume the debt obligations, the volume of which is equal to the sum of attachments. The Fund, organized by UK Export Finance aims to secure the UK's position within the market of electric cars. Furthermore, the major funding will support the company Jaguar, which invests billions in the refurbishment of the Castle Bromwich plant for the production of electric sedans XJ. In addition, representatives of the automaker said that, beginning next year, all model cars are available in electric versions.