NSANY Nissan Motor Company Ltd (PK)

   By Kosaku Narioka 
 

Nissan Motor Co. announced a 1 billion British pound ($1.38 billion) electric-vehicle production hub in the U.K. that includes Envision Group's battery factory.

The Japanese auto maker said Thursday that it would invest up to GBP423 million to produce a new-generation electric vehicle at its Sunderland plant and that an Envision unit will invest GBP450 million to build a factory near the plant and supply batteries for up to 100,000 vehicles a year.

Nissan said the project would create 6,200 jobs in the U.K. and that the vehicles produced at the plant would be exported to other European markets.

Nissan also said the Sunderland City Council is leading a project that aims to save 55,000 metric tons of carbon annually by providing renewable electricity to the production site.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

July 01, 2021 03:54 ET (07:54 GMT)

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