Business News
Royal Assent granted to HS2
HS2 received a ‘shot in the arm’ after gaining Royal Assent for Phase 2a of the high-speed rail line, connecting Birmingham to Crewe. The Act of Parliament was
passed exactly one year after Ministers gave the project the green light. HS2 Ltd can now begin
work on constructing the next phase of the new railway between Crewe and Birmingham, expected to create thousands of jobs. In addition, the railway will
support 140 permanent jobs at its maintenance base near Stone in Staffordshire.
‘HS2 is so key and essential for our economy here in the West Midlands’
Construction of the first
stage of the project between the West Midlands and London is already underway and is supporting more than 15,000 jobs and 500 apprenticeships. Paul Faulkner, chief
executive of Greater Birmingham Chambers of Commerce hailed the news as a “shot in the arm for the whole project”. He said: “This news really
matters because HS2 is so key and essential for our economy here in the West Midlands. “It has been a catalyst for
the regeneration we’ve seen here in Birmingham and the wider region in recent years. “HS2 is going to be the real
driver that helps to drag us out of this Covid slump and fuel our recovery. “It is already employing
over 15,000 people now, including 500 apprentices. “This is another shot in the
arm for the whole project, it proves to some of those doubters that it is going to happen and it is very welcome during these challenging times.” In addition, the railway will
support 140 permanent jobs at its maintenance base near Stone in Staffordshire. Transport Secretary Grant
Shapps said: “Whatever your view of this project, HS2 is now a reality – heading north, creating jobs and building a brighter future for our country.”
10 CHAMBERLINK March 2021
Car manufacturer Jaguar Land Rover (JLR) has announced plans to become an ‘all-electric luxury brand’ by 2025. The car marker laid out plans for its electric future in
what is termed its ‘Reimagine’ strategy, which paves the way for a complete electric vehicle range by 2025 and ambitious plans to become a net zero carbon business by 2039. JLR bosses also insisted they are committed to keeping all three of the firm’s British plants open.
‘Together, we can design an even more sustainable and positive impact on the world around us’
The car maker, owned by India's Tata Motors, said
the Jaguar brand will lead the way, with a complete electric vehicle range by 2025. Land Rover’s first electric vehicle is due to arrive by
2024 and will form the initial step into a six-strong model line-up. Thierry Bollore, who took over as chief executive in
Theirry Bollore: The JLR boss presenting the car maker’s Reimagine strategy
JLR announce ‘all-electric brand’ plans
September, said: “JLR is unique in the global automotive industry. “Designers of peerless models, an unrivalled
understanding of the future luxury needs of its customers, emotionally rich brand equity, a spirit of Britishness and unrivalled access to leading global players in technology and sustainability within the wider Tata Group. “We are harnessing those ingredients today to
reimagine the business, the two brands and the customer experience of tomorrow. “The Reimagine strategy allows us to enhance and
celebrate that uniqueness like never before. “Together, we can design an even more sustainable
and positive impact on the world around us.” JLR said it will spend around £2.5bn a year on
electrification technologies and development of linked vehicle services. The firm said it was also investing in developing
hydrogen fuel cells in anticipation of a future change to shift to power vehicles. The carmaker said it will have prototypes using
hydrogen fuel cells on Britain's roads within the next year as part of a long-term investment plan.
Airport earmarked for gigafactory
Coventry Airport could be the site for a new gigafactory in the West Midlands, which will produce batteries for electric cars. A joint venture partnership
between Coventry City Council and the Rigby Group, which owns the airport and SCC, patrons of Greater Birmingham Chambers of Commerce, has revealed plans for the factory to be built at the site, which could create around 4,000 jobs. Proposals for the site are due to
be submitted this year, and a search for an investor to fund the project is underway. If the plans receive funding and
the green light on planning permissions, it is hoped that the gigafactory would open in 2025. The Government previously announced £500m funding to support the electrification of vehicles, including developing gigafactories across the UK, which this project will be bidding for.
leap forward today. “The point I have been
An artist’s impression of what the gigafactory could look like
The proposals follow Jaguar
Land Rover’s plans to be an “all- electric luxury brand” by 2025. Andy Street, mayor of the West Midlands, has long been lobbying for a gigafactory to be established in the West Midlands. He said: “I have been utterly
obsessed with securing a gigafactory for the West Midlands due to the huge economic and job benefits it would bring, and so I am delighted we have announced our preferred site and taken a huge
ferociously lobbying to government is that the West Midlands is the natural place for a UK gigafactory as we are already home to the country’s biggest car manufacturer, Europe’s largest research centre, the UK’s only battery industrialisation centre, and a world-leading supply chain. “By announcing the site now and
driving forward with a planning application and a joint venture, we are showing how united and serious the region is about making this happen. “The next step is to submit the
case to Government to win the funding required, and discussions are already well underway with the UK’s leading car makers and battery suppliers across the globe to put together the strongest bid possible. I will not rest until the West Midlands has the gigafactory it needs.”
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