The U.K. gives Jaguar Land Rover Automotive Plc a 500-million pound (US$626 million) loan guarantee to support the development of electric cars, Prime Minister Theresa May said on Monday.
- Guarantee to JLR, a unit of Tata Motors Ltd., issued by government export credit agency U.K. Export Finance
- Loan will support JLR’s design, manufacturing and export of next-generation electric cars
- May met auto-industry representatives at a round table in Downing Street on Monday, including representatives from JLR, Ford, BMW, Nissan, Vauxhall