Tata Group reportedly preparing to finalize Somerset plant deal, generating 9,000 jobs.

Reports indicate that Somerset is positioned to house a multibillion-pound electric vehicle battery plant, potentially creating numerous job opportunities. The Tata Group, owner of Jaguar Land Rover, is making preparations to finalize a deal that would select the UK as the plant’s location instead of Spain, as reported by the BBC. This agreement would represent a significant achievement for the UK, highlighting advancements and investments in the automotive industry.

According to the BBC, the chairman of Tata is scheduled to meet with Rishi Sunak in the coming week. While the deal has not been formally signed yet, sources familiar with the matter suggest progress has been made, with negotiations moving towards drafting an agreement.

Last week, Chancellor Jeremy Hunt hinted at the imminent nature of the deal, emphasizing the UK’s focus on securing electric vehicle manufacturing capacity. A potential plant in Bridgwater has the potential to generate up to 9,000 job opportunities. While Tata, an Indian conglomerate, was considering a site in Spain, which is an EU member unlike the UK, their spokesperson chose not to comment on the reports. Stellantis, a major global car manufacturer, has cautioned that it may be unable to uphold its commitment to producing electric cars in the UK and might have to shut down factories unless modifications are made to the Brexit deal.

During a recent Commons inquiry on battery supply for electric vehicle manufacturing, the owner of Vauxhall, Citroën, and Peugeot expressed concerns about their UK investments due to the terms of the trade deal. The company emphasized the importance of enhancing the UK’s competitiveness by establishing battery production within the country.

At the beginning of this year, Britishvolt, a startup that had plans to construct a large-scale battery plant in the northeast region of England, ceased operations. Despite being viewed as a significant prospect for the UK’s battery industry, the company lacked prior battery production experience and was unable to secure the necessary funding.