Nissan to Ramp Up EV, Battery Business in U.K. With Over $2 Billion Investment -- Update
November 24 2023 - 4:41AM
Dow Jones News
By Ronnie Harui
Nissan Motor is expanding its electric vehicles and battery
manufacturing capacity in the U.K. with investments of up to 3.0
billion pounds ($2.39 billion) as the carmaker pushes to have an
all-electric lineup in Europe.
The Japanese company plans to add a third gigafactory and
produce two additional models at its EV hub in Sunderland, it said
Friday.
"The additional two models, alongside an additional gigafactory
and further investment for infrastructure projects, will result in
an investment of up to £2 billion," the company said in a
statement. "Nissan's plans for the future electric versions of
Qashqai, JUKE, and the replacement for LEAF, will enable up to a £3
billion investment in the UK."
Both vehicle and battery manufacturing facilities will use
renewable electricity from wind and solar farms, Nissan added.
EVs are at the core of Nissan's plans for carbon neutrality,
Nissan President and Chief Executive Makoto Uchida said, adding
that "the EV36Zero project puts our Sunderland plant, Britain's
biggest ever car factory, at the heart of our future vision."
Friday's move follows Nissan's confirmation that all its new
cars in Europe from now will be fully electric. The automaker aims
to have a fully electric passenger car line-up in Europe by
2030.
Nissan said the latest investment includes up to GBP1.12 billion
for its U.K. operations and wider supply chain for research and
development, as well as EV production, "including facility and
manufacturing process improvements, skills training, and tooling
for suppliers."
It follows the GBP423 million investment Nissan announced in the
first phase of EV36Zero, and builds on the company and its
partners' initial GBP1 billion investment in the hub, the carmaker
said.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
November 24, 2023 04:26 ET (09:26 GMT)
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