Coventry-based Jaguar Land Rover has confirmed plans to build electric cars in the UK.
The investment will be made at the firm's factory in Castle Bromwich, in a move they say will safeguard thousands of jobs.
It is part of the car giant's aim to offer electric options for all models from next year.
Prof. Dr. Ralf Speth, Chief Executive Officer of Jaguar Land Rover, said: “The future of mobility is electric and, as a visionary British company, we are committed to making our next generation of zero-emission vehicles in the UK.
“We are co-locating our electric vehicle manufacture, Electronic Drive Units and battery assembly to create a powerhouse of electrification in the Midlands.”
“Convenience and affordability are the two key enablers to drive the uptake of electric vehicles to the levels that we all need. Charging should be as easy as re-fuelling a conventional vehicle.
“Affordability will only be achieved if we make batteries here in the UK, close to vehicle production, to avoid the cost and safety risk of importing from abroad. The UK has the raw materials, scientific research in our universities and an existing supplier base to put the UK at the leading edge of mobility and job creation.”
The first new electric car to be produced at the plant will be Jaguar’s flagship luxury saloon, the XJ. The news was confirmed to workers at Castle Bromwich as production of the current XJ came to an end.