July 31, 2021
Economy

Bank of England governor plays down inflation worries; Nissan announces UK’s first gigafactory – business live | Business

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Japanese car giant Nissan has unveiled plans for the UK’s first “gigafactory” producing batteries for electric vehicles, in a £1bn investment plan that secures the future of its Sunderland car plant.

The move is a boost for the North East, and the UK’s car industry as it tries to move from internal combustion engine to electric vehicles, in the push towards net zero.

Nissan has announced that will invest £423m in the Sunderland plant, to produce a new-generation all-electric crossover vehicle, creating 750 new jobs.

And its Chinese partner, battery producer Envision-AESC, is spending £450m building a battery factory next door, which will deliver electric power packs to power the vehicles, creating another 900 roles.

Sunderland council is…

Read full article here: www.theguardian.com