Chinese manufacturer set for £1bn UK investment

Chinese electric vehicle battery manufacturer EVE Energy could invest over £1bn in a new gigafactory near Coventry that would create up to 6,000 jobs in the region.

The site would initially have an output of 20GWh, which would subsequently be increased to 60GWh.

Once completed, the new facility would be nearly twice the size of Nissan’s gigafactory in Sunderland and underline the area’s position as the UK hub for electric vehicle innovation and manufacturing.

EVE Energy is one of the five largest EV battery manufacturers in the world, employing more than 30,000 people, and 18 months ago signed a contract to supply BMW with batteries for its electric cars in Europe.

According to The Sunday Times, talks are in an ‘exclusive and advanced stage’ and an official announcement could be made ‘within weeks’, with the factory expected to operational as early as 2026.