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UK Touts ‘Advanced Manufacturing Plan’ to Boost Jobs

2023-11-26 19:53
The UK government unveiled what it called an “Advanced Manufacturing Plan” aimed at supporting local job creation and
UK Touts ‘Advanced Manufacturing Plan’ to Boost Jobs

The UK government unveiled what it called an “Advanced Manufacturing Plan” aimed at supporting local job creation and industries, including in battery production.

The new blueprint includes £2 billion ($2.5 billion) in funding for the auto industry, £975 million for aerospace and may create 100,000 new roles in the battery sector, according to a statement. It also builds on recent announcements by Nissan Motor Co, to invest £2 billion to expand its UK electric-vehicle hub and by Tata Motors Ltd. to construct a £4 billion gigafactory in Somerset.

Other key details in the plan:

  • Creating a Hydrogen Taskforce to help reach 10 GW of hydrogen production capacity by 2030
  • A battery strategy that seeks to invest £50 million to achieve a globally competitive supply chain by 2030
  • Building on existing support that ensures energy costs for industries like steel, metals and chemicals remain in line with other major economies