BMW is expected to say it will spend £600m on updating the Cowley plant, developing the production lines, extending its body shop and building a new area for installing batteries.
But last year, the company confirmed production of most of its electric cars would move to China, where the new models have been developed in partnership with Great Wall Motor.
This is the latest in a series of government-backed investments designed to promote the development of electric vehicles in Britain, ahead of a ban on the sale of new petrol and diesel powered cars due to take effect in 2035.
In July, Jaguar Land Rover’s owner, the Indian group Tata, said it would build a giant “gigafactory” to produce batteries in Somerset, a project expected to benefit from hundreds of millions of pounds in taxpayer support.
Germany-based analyst Matthias Schmidt believes car firms have been exploiting what he sees as the government’s weak position, as it tries to secure new investment in the industry after Brexit.
From next year, new rules will effectively ensure that cars with batteries made outside either the UK or the EU will face steep tariffs when shipped across the Channel.
The original article contains 803 words, the summary contains 195 words. Saved 76%. I’m a bot and I’m open source!
This is the best summary I could come up with:
BMW is expected to say it will spend £600m on updating the Cowley plant, developing the production lines, extending its body shop and building a new area for installing batteries.
But last year, the company confirmed production of most of its electric cars would move to China, where the new models have been developed in partnership with Great Wall Motor.
This is the latest in a series of government-backed investments designed to promote the development of electric vehicles in Britain, ahead of a ban on the sale of new petrol and diesel powered cars due to take effect in 2035.
In July, Jaguar Land Rover’s owner, the Indian group Tata, said it would build a giant “gigafactory” to produce batteries in Somerset, a project expected to benefit from hundreds of millions of pounds in taxpayer support.
Germany-based analyst Matthias Schmidt believes car firms have been exploiting what he sees as the government’s weak position, as it tries to secure new investment in the industry after Brexit.
From next year, new rules will effectively ensure that cars with batteries made outside either the UK or the EU will face steep tariffs when shipped across the Channel.
The original article contains 803 words, the summary contains 195 words. Saved 76%. I’m a bot and I’m open source!
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