Jaguar Gets £500 Million Loan Guarantee From The UK Govt

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This British automobile manufacturer JAGUAR along with Land Rover gets loan guarantee of £500 million. Which is roughly estimated to 626 Million USD at the current rate. The main objective of this loan was to push e-cars developments to an advanced level.

As per the report from THE GUARDIAN, a meeting between the officials and industry leaders took place earlier this week. The special attendee was the Prime Minister THERESA itself. She reported in the conference that Jaguar Land Rover’s gets £500 Million funds. Additionally, £125 million will be from commercial leaders.

Funding will be made when this British automobile manufacturer unveils their plans of new electric cars. It is out that this a new manufacturing unit is developed at Castle Bromwich Factory for the assembly production.

Loaded with 90.2 KWh battery, these vehicles can travel upto 292 miles on a full charge. Once after this commercial rollout, the company plans to design a new Battery Assembly center capable of taking care of 150K+ units annually.

JLR is planning a new strategy to produce electric cars. As a vision to 2020, this project predicts the company’s future. and it is known that the labor-power necessity is going to make JLR safeguard 2,500 jobs locally.

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