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Chinese EV battery giant eyes UK gigafactory investment

Posted at March 25, 2024 » By : » Categories : News » Comments Off on Chinese EV battery giant eyes UK gigafactory investment

EVE Energy, a Chinese manufacturer specialising in electric vehicle (EV) batteries, is reportedly considering investing over £1 billion in a gigafactory near Coventry.

According to reports, the factory could cover 5.7 million square feet and enhance the country’s electric car manufacturing.

Reports suggest that EVE Energy’s initial investment could exceed £1.2 billion, with subsequent phases of development expected to expand the facility’s capacity.

If realised, the gigafactory could rival existing manufacturing facilities in terms of scale, potentially positioning it as a cornerstone of Britain’s EV industry.

The proposed Coventry gigafactory would complement existing automotive facilities in the West Midlands, which include establishments operated by prominent manufacturers such as Jaguar Land Rover, Aston Martin Lagonda and BMW.

In February, Tata, the Indian conglomerate, officially designated Bridgwater in Somerset as the site for its forthcoming £4 billion battery factory, managed by its battery division, Agratas.

Situated at the Gravity Smart Campus along the M5, the location is anticipated to provide a substantial economic uplift to the area, with an estimated creation of approximately 4,000 job opportunities.

Article source: https://www.energylivenews.com/2024/03/25/chinese-ev-battery-giant-eyes-uk-gigafactory-investment/

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