No 10 hands Jaguar Land Rover £500m loan to develop electric cars

Meeting of carmakers also told of plan for new houses to have EV charging point

The government has handed Jaguar Land Rover a 500m loan guarantee to help accelerate its progress in the global electric vehicle race.

Theresa May said the loan would help Britain's biggest carmaker sell the next generation of electric cars around the world. She told a meeting of industry leaders at Downing Street on Monday that the funding pot would include 500m from UK Export Finance alongside another 125m from commercial lenders.