(Institute of Export and International Trade, London, 22 December 2022) In its end of 2022 report, the IEIT notes that UK Export Finance (UKEF) is backing 80% (£500m) of a loan by 12 banks that will support the research, development and export of the next range of battery-powered Range Rovers. Jaguar Land Rover is one of the UK’s largest exporters and employs more than 28,000 staff in the UK. In 2020-21, the company sold 439,588 vehicles in 127 countries, with about 80% of its sales to export markets outside the UK. UKEF backing worth £600 million will also help Ford to expand its electric vehicle production line.
