Envision Group has joined the race to build the UK’s first lithium-ion gigafactory that will form part of a £1 billion ($1.3 billion) electric vehicle hub.
The company will invest £450 million ($622 million) to build the gigafactory on the International Advanced Manufacturing Park (IAMP).
Formal planning for an initial 9GWh plant is about to begin, with Envision potentially investing up to £1.8 billion ($2.4 billion) to reach to 25GWh capacity by 2030 with potential on site for up to 35GWh.
Envision AESC, the battery arm of Envision Group, already owns and operates a battery plant in Sunderland, established in 2012 to supply batteries to Nissan.
