Tata seeks partnerships for UK battery plant to supply Jaguar Land Rover EVs – EQ Mag
The UK battery plant is a significant development for the country’s automotive industry.
Tata Sons is engaging in discussions with multiple startups as it seeks technical expertise for its £4 billion ($5.1 billion) UK battery plant.
According to P.B. Balaji, CFO of Tata Motors Group, the collaborations for the battery plant, with a capacity to supply cells for over 500,000 vehicles annually, could take various forms, ranging from joint ventures to experimentation, and licensing agreements.
Tata’s objective is to establish partnerships across the entire battery production spectrum, covering cell chemistry, manufacturing, and industrialisation. The conglomerate is in talks with companies at different stages of the value chain, including research and development, manufacturing innovation, and refining.
This move by Tata aligns with other automakers like Mercedes-Benz, Stellantis, and Nissan, who have mostly collaborated with established battery manufacturers to scale up Europe’s battery supply.
The UK battery plant is a significant development for the country’s automotive industry, which has faced challenges due to Brexit and the transition to electric vehicles. Jaguar Land Rover and Tata Motors are key customers for the plant, slated to produce 40-gigawatt hours of batteries starting in 2026.
To fund the project, Tata plans to use a combination of equity and debt financing, along with equipment financing, while ensuring a sustainable financial structure without over-leveraging its balance sheet.
