TMETC is a subsidiary of Tata Motors located in the UK West Midlands. The centre is engaged in advanced automotive technology and vehicle product development and employs approximately 180 people.
The loan is the first award recognised under the Automotive Assistance Programme (AAP), which has been set up opened in March 2009 to support lower-carbon investments in the industry.
The scheme is intended to support companies as they invest in greener products and processes.
Commenting on the loan, Business Secretary Lord Mandelson, said: “This loan will strengthen our electric vehicle manufacturing expertise, securing and creating high value engineering jobs in the West Midlands. “TMETC will continue to invest in R&D in the next generation of sustainable transport, helping it become a lead player in this exciting and important technological area”.
FinSMEs
18/09/2009