Feeds

Tata threatens govt over e-car loan decision

'Give us the cash, or else!'

Secure remote control for conventional and virtual desktops

Leccy Tech The government’s relationship with Indian car maker Tata could be turning sour, following delays over a multi-million pound e-car loan.

Tata_01

Tata wants a £10m govt loan to help it build a UK e-car production line

Back in April Tata applied to the government for a £10m ($16.3m/€11.6m) loan to help set-up a UK production line for its Indica Vista leccy hatchback.

But Tata’s since been told by the Department of Business Innovation and Skills that a decision on the loan won't be made for another eight weeks – significantly extending the length of time that Tata must wait for an answer.

Tata – which also owns Jaguar Land-Rover - has implied that this just isn’t good enough - threatening to bin entire the project if a decision isn’t reached pretty damn quickly.

If Tata is awarded funding then the cash will come from a £2.3bn ($3.8bn/€2.7bn) car assistance package, which the government announced back in January. The cash is earmarked for schemes that could help the UK car industry out of the current crisis and eco-friendly car development projects.

But it’s worth noting that a cross-party group of MPs recently pointed out that, to date, the government hasn’t spent a single penny of its car assistance package cash.

To make matters worse, the government is also still haggling with Tata over the exact terms of a €340m ($556m/€394m) loan that Jaguar Land-Rover agreed with the European Investment Bank back in April.

Reading between the lines, the government's caution may be something to do with the fact that it lent MG Rover £6.5m ($10.6/€7.5m) back in April 2005 - only to see both the cash and the company vanish down the toilet almost immediately afterwards. ®

Next gen security for virtualised datacentres

More from The Register

next story
Boffins attempt to prove the UNIVERSE IS JUST A HOLOGRAM
Is this the real life? Is this just fantasy?
Our LOHAN spaceplane ballocket Kickstarter climbs through £8000
Through 25 per cent but more is needed: Get your UNIQUE rewards!
NASA to reformat Opportunity rover's memory from 125 million miles away
Interplanetary admins will back up data and get to work
LOHAN tunes into ultra long range radio
And verily, Vultures shall speak status unto distant receivers
SpaceX prototype rocket EXPLODES over Texas. 'Tricky' biz, says Elon Musk
No injuries or near injuries. Flight stayed in designated area
Galileo, Galileo! Galileo, Galileo! Galileo fit to go. Magnifico
I'm just a poor boy, nobody loves me. But at least I can find my way with ESA GPS by 2017
EOS, Lockheed to track space junk from Oz
WA facility gets laser-eyes out of the fog
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?