UK to invest GBP 300 mn in nuclear energy: The UK government will invest GBP 300 mn in a new program to produce high-assay low-enriched uranium (HALEU) for power generation in the next generation of nuclear reactors, Reuters reports. The program aims to support domestic production of HALEU and reduce the country's energy reliance on Russia, which is currently the only country producing the fuel on a commercial scale. The UK’s first production plant is expected to be operational by the early 2030s. The investment is also part of Britain's commitment to triple global nuclear capacity by 2050.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • US approves loan to detect methane leaks: The US government approved a USD 189 mn loan to LongPath Technologies — a company that uses lasers to detect methane leaks from oil and gas sites — on Friday. The loan will help LongPath expand its network of methane monitors across the Permian Basin and six other states. (Bloomberg)
  • Tesla recalls 1.6 mn EVs in China: Tesla issued a recall of 1.6 mn vehicles — Model S, X, 3, and Y cars — in China over the weekend due to issues withautomatic driver-assistance steering and door latch controls. The vehicles will be fixed remotely using over-the-air software updates. (Reuters)
  • Vinfast to open its first EV battery plant in India: Vietnamese EV maker VinFast is set to open a battery manufacturing facility in Tamil Nadu, India, which is already home to big names in the EV industry including India’s Ola Electric and Ather as well as China's BYD. No details on the investment size or expected date for operations have been revealed. (Reuters)
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