UK Labour Party Pledges £2 Billion for Eight Battery Plants
- Opposition warns UK falling behind in race to build industry
- Party also plans to accelerate roll-out of EV charging points
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Keir Starmer’s Labour Party announced plans to help finance eight new battery plants with £2 billion ($2.4 billion) of public money if the UK opposition wins the next general election.
Labour said its strategy to part-finance the new so-called gigafactories will help power nearly 2 million cars and support £30 billion in economic growth. The announcement comes two months after EV battery supplier Britishvolt Ltd. — which had planned an enormous £3.8 billion plant in northern England — went into administration.