Nissan to Ramp Up EV, Battery Business in U.K. With Over $2 Billion Investment -- Update

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 [e-mail]

(END) Dow Jones Newswires

November 24, 2023 04:26 ET (09:26 GMT)

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