Nissan leads $2.5 billion investment to build two more EVs in UK
Nissan leads $2.5 billion investment to build two more EVs inoffering a boost to the country’s auto industry and a UK prime minister desperate to attract foreign investment.
The Japanese automaker said Friday that its plans to manufacture electric versions of the Qashqai and Juke, produced in Sunderland in northeast England, would require a total investment of up to £2 billion ($2.5 billion), including a third battery plant in Britain and infrastructure projects that its partners would help finance.
In Sunderland, Nissan produces its electric Leaf model and will continue to do so, with batteries supplied by a small plant.
A $1.4 billion investment will be made by the company and its Chinese partner Envision AESC in 2021 to build a second battery facility in Sunderland, capable of producing 9 gigawatt-hours (GWh).
After Brexit, foreign companies have become less interested in Britain since the Brexit vote in 2016, and Prime Minister Rishi Sunak will attempt to revive interest in the country at the Global Investment Summit.
A statement from Sunak on Friday said, “Making the UK the best place to do business is at the heart of our economic plan.”
Alan Johnson, Nissan’s senior vice president of manufacturing and supply chain, explained the importance of government support. Discussions with the government are ongoing, and they have not been concluded.”
7,000 Sunderland workers and 30,000 people in Nissan’s supply chain will benefit from Nissan’s investment, which builds on a 1986 presence in the country.
In a move to supply its Jaguar Land Rover factories with electric vehicle batteries, Tata Motors announced it would invest £4 billion ($5 billion) in a UK plant.