UK to Unveil Battery Plant Strategy in Bid to Retain Carmakers
- British plan is first response to US green subsidies package
- UK worried green investment is being diverted to US, EU
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The UK is poised to unveil plans to boost green manufacturing, just as it seeks to lure investment in a new battery plant from Jaguar Land Rover parent Tata Group.
The government’s “Advanced Manufacturing Plan” will form part of the UK response to US President Joe Biden’s $369 billion package of green subsidies and tax credits, three people familiar with the plan said. Ministers including Energy Secretary Grant Shapps have expressed concerns that the American plan — and the European Union response to it — risked triggering protectionism.