Jaguar gets ￡500-million backing from UK for EV development

摘要

Jaguar Land Rover, the UK’s largest automotive exporter, will get a ￡500 million ($620.3 million) loan guarantee from the UK government so it can move ahead with the development and production of electric vehicles, the company said Tuesday. The guarantee will be issued by UK Export Finance, the UK’s export credit agency, and will enable the automaker to secure a ￡625 million loan from commercial banks, a statement said.