Jaguar receives £500m government loan guarantee for EVs
Jaguar Land Rover is getting a £500-million loan guarantee from the British government to further develop its electric vehicles. Let's see what they can do with all that money.
"The fund – while not a loan in itself – is a state-backed guarantee that will allow Jaguar Land Rover to easily secure credit and direct funding in order to “support the company’s design and manufacture of the next generation of electric vehicles and its export activities”. It effectively means that in the unlikely event that JLR were to default on repaying the loan, the government would step in."