Government loan Tata £10m for electric vehicles
September 28, 2009
A £10 million loan from the Government will support £25 million of investment from Tata Motors to develop and manufacture electric vehicles in the UK, it was announced last week.
The money will go to Tata Motors European Technical Centre (TMETC) under the Automotive Assistance Programme, set up to support investment in a lower carbon future for the industry and to help to meet the UK target for a reduction in carbon dioxide emissions.
The scheme is intended to support companies as they invest in greener products and processes, and this first award demonstrates, Business Secretary Lord Mandelson said, that the Government and industry are working together on the lower carbon agenda.
“This loan will strengthen our electric vehicle manufacturing expertise,” he said, “securing and creating high value engineering jobs in the West Midlands. TMETC will continue to invest in R&D in the next generation of sustainable transport, helping it become a lead player in this exciting and important technological area.”
Tata Motors has developed a four-seater electric vehicle, based on the Tata Indica Vista passenger car which was launched in India last year.
The Indica Vista has a range of up to 200km and a top speed of 104kph (electronically limited) and will be in production before the end of this year.
TMETC is one of a consortium of companies in the West Midlands participating in the Government’s Low Carbon Vehicle Demonstrator programme, the biggest of its kind and intended to accelerate the availability of innovative low-carbon cars to consumers.
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