The meeting was part of wider action from government to support the automotive industry, and the Prime Minister confirmed that Jaguar Land Rover will receive a £500 million loan guarantee from government export credit agency UK Export Finance.
This will support the company’s design and manufacture of the next generation of electric vehicles and its export activities.
The representatives discussed with the Prime Minister that as well as having long term consistent incentives and the right charging infrastructure in place to drive up demand for electric vehicles, the UK should build on its strengths in the development of next generation battery technology.
The UK has already made a major commitment with the £274 million investment in the Faraday Battery Challenge, and earlier investments through the Automotive Propulsion Centre.
Attendees spoke about how best to build on this and work more closely together to develop the next generation of battery technology, including by supporting small businesses in the electrified supply chain and the building of a Gigafactory – a large-scale battery technology factory for electric vehicles.
Attendees also agreed to establish a Green Mobility Transition Board which for the first time will formally bring together government, industry and environmental groups to coordinate efforts to speed up the adoption of ultra-low emission vehicles while making progress on ambitions to tackle climate change and further improve air quality.
The Prime Minister’s Industrial, Manufacturing and Infrastructure Business Council will work closely with representatives across the relevant sectors to scope out the exact terms of reference and members over the coming weeks.
The Prime Minister also set out a number of new commitments aimed at making electric vehicles more convenient than ever before to own, which were welcomed by attendees including: