UK Government Provides Funds For Construction Of Electric Vehicles Battery Plant
Mohammad Ali (@ChaudhryMAli88) Published January 21, 2022 | 06:00 PM
MOSCOW (UrduPoint News / Sputnik - 21st January, 2022) The United Kingdom Government announced Friday the allocation of funds to support Britishvolt, the UK battery producer, for the construction of the first British "gigafactory" to manufacture batteries for electric vehicles as part of its net zero strategy.
"Once complete, the factory will produce enough batteries for over 300,000 electric vehicles each year, significantly supporting the UK automotive industry's transition to a zero emissions future and increased production of electric vehicles," the statement read.
The funds, amounting to �100 million ($1.4 million), will be disbursed through the Automotive Transformation Fund and will contribute to the plant erection in Blyth town in England's north-east, Northumberland.
According to the statement, the government's support will unlock private investments to the plant development, which will generate 3,000 new jobs with another 5,000 indirectly, in the wider supply chain.
"Britishvolt's plan to build a new gigafactory in Northumberland is a strong testament to the skilled workers of the Northeast and the UK's place at the helm of the global green industrial revolution," UK Prime Minister Boris Johnson said, stressing that "the new battery factory will boost the production of electric vehicle."
Under the Paris climate agreement, the UK has agreed to achieve net zero by 2050, with an interim target to reduce greenhouse gas emissions by 78% by 2035. To achieve these goals, Johnson unveiled his �12 billion 'Ten-point plan for a green industrial revolution' in November 2020, pledging to end the sale of new petrol and diesel vehicles by 2030.
Related Topics
Recent Stories
Hania enjoys vacations in London
IMF Officials assure support to Pakistan’s economy
Naqvi directs foolproof measures for protection of Chinese nationals
Israel carries out attack inside Iran, report US media
Saudi Assistant Minister of Defence calls on army chief
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
Today Gold Rate in Pakistan 19 April 2024
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
More Stories From World
-
G7 vows to bolster Ukraine's air defence
7 minutes ago -
G7 asks 'all parties' to prevent further Middle East escalation
7 minutes ago -
S. Korea govt offers first compromise in effort to end doctors' strike
7 minutes ago -
Remote Indonesia volcano Mount Ruang erupts again
17 minutes ago -
China to play 'constructive role' to ease tensions after reported strike on Iran
27 minutes ago -
Explosions in Iran as US media reports Israeli strikes
37 minutes ago
-
Italy urges 'de-escalation' as G7 to discuss reported strike on Iran
57 minutes ago -
Indonesia on alert for more eruptions from remote volcano
57 minutes ago -
5.0-magnitude quake hits Alaska Peninsula
1 hour ago -
Foreign-invested firms in China up 20.7 percent in Q1: data
1 hour ago -
China launches digital database of classic graphics
1 hour ago -
Hindu nationalist Modi the favourite as India votes
1 hour ago