6 companies in early-stage talks with Britain to build gigafactories for EV batteries

In a report the Financial Times said citing sources familiar with the matter at hand, Britain is in talks with 6 companies for building gigafactories which will produce batteries for electric vehicles.

According to the report, Nissan Motor Co Ltd, Ford Motor Co, Samsung, LG Corp and startups Britishvolt and InoBat Auto are in talks with the British government in selecting locations for the potential plants as well as financial support.

The British government’s plan on banning the sale of new petrol and diesel vehicles by 2030 and hybrids by 2035, as part of its strategy to produce electric vehicles.

According to a spokesperson from the UK business department, the British government was “dedicated to securing gigafactories, and continue to work closely with investors and vehicle manufacturers to progress plans to mass produce batteries in the UK”.

There are nearly 38 planned gigafactories across Europe, said green lobby group Transport & Environment.

The talks, which are in early stages, saw Ford indicating that it was exploring making batteries in the UK that would then be shipped to Turkey for use in a planned electric version of its Transit van, said the Financial Times report.

Nissan is also in talks with the British government on building a battery plant at its Sunderland manufacturing complex.

Both, Samsung and LG are in early-stage talks with the British government about investments, with the duo likely to proceed only if they have deals with major carmakers, said the report.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy, Sustainability

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