Britain announces 1 billion pound AESC gigafactory funding deal

Britain announces 1 billion pound AESC gigafactory funding deal

LONDON :Britain on Friday announced a 1 billion pound ($1.33 billion)funding deal for a new AESC gigafactory which will manufacture electric vehicle batteries.Japanese-headquartered battery maker AESC will build the facility in Sunderland, northern England. The government said it would provide batteries for u

Britain announces 1 billion pound gigafactory deal

The British government as announced a 1 billion pound ($1.33 billion) funding deal for a new AESC gigafactory which will manufacture electric vehicle batteries. Japanese-headquartered battery maker AESC will build the facility in Sunderland, northern England. The government said it would provide batteries for up to 100,000 EVs per year – a six-fold increase on current capacity. “We are going further and faster to boost our industries’ resilience…

£1bn investment for Sunderland gigafactory

A new gigafactory in Sunderland will provide 1,000 jobs as part of a £1bn deal to accelerate electric vehicles (EV) and boost growth. The new AESC gigafactory will manufacture batteries for EVs, powering up to 100,000 EVs each year, which is a six-fold increase on the country’s current capacity.  In the deal, the National Wealth Fund and UK Export Finance will provide financial guarantees which unlock £680m in financing from banks including Stan…

1,000 jobs as Sunderland gigafactory secures £1bn – Northern Financial Review

Up to 1,000 jobs are to be created at a new state-of-the-art gigafactory in Sunderland in a £1 billion auto deal to accelerate the UK’s transition to electric vehicles and boost growth. The investment is another boost for the British car industry after the UK government’s economic deal with the United States slashed tariffs on British exports. The new AESC gigafactory will manufacture batteries for electric vehicles, powering up to 100,000 EVs e…