The government has taken decisive action to ensure battery manufacturers, auto firms and SMEs rooted in communities across Britain benefit from major financial support - keeping the country a leading hub for business, investment, and jobs in a volatile global environment.
Thanks to the UK’s Modern Industrial Strategy, 4,200 jobs have been secured following over £700 million of investment in the advanced manufacturing sector – showing that the government is supporting the industries of the future by helping to create a resilient economy that will boost growth and raise living standards for working people.
Business Secretary Peter Kyle announced the measures in a visit to Agratas in Somerset, where a £380 million government grant was unveiled to support the firm in building one of the largest gigafactories in Europe – where the newly constructed factory frame was built using 100% British-steel.
Agratas’ project will strengthen economy security and reduce Britain’s reliance on imports by turbocharging domestic battery production and generating around £43 billion worth of economic growth over a 25-year period when the facility is in full operation, News Cover reports, citing the UK government's official website.
The site will not only support 4,200 direct jobs but thousands more in the supply chain, as well as unlock 300 apprenticeships - backed by a specialised battery manufacturing apprenticeship unit to meet the skills needs of Agratas’ gigafactory and the wider battery sector.
