Nissan bets on UK ‘renaissance’ with battery plant and new vehicle – Reuters

UK nissan battery plant renaissance
Middle East

Nissan bets on UK ‘renaissance’ with battery plant and new vehicle – Reuters

SUNDERLAND, England, July 1 (Reuters) - Nissan Motor Co (7201.T) bet on Britain to supercharge its European electric future on Thursday, pledging $1.4 billion with its Chinese partner to build a giant battery plant that will power 100,000 vehicles a year including a new crossover model.

Facing the most profound technological shift in a century, the titans of the auto industry are racing to secure battery supply close to the factories where they will make the new cleaner electric vehicles of the future.

Nissan cast its backing for the 9 gigawatt-hour (GWh) plant as illustrative of a rejuvenation of Britain's automotive industry, which has for five years grappled with the fear that Brexit could cut off the rest of the European market.

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