The West Midlands Gigafactory joint venture has confirmed that it is in advanced discussions with several leading Asian battery manufacturers about future investment at the Coventry site.
This location is the only available site in the UK with planning permission in place for a large-scale battery production facility with capacity for up to 60GWh per annum – enough to power 600,000 electric vehicles.
It is also the first of its kind in the UK offering an all-in-one solution for battery research, industrialisation, manufacturing, testing, recycling and electrified logistics designed to foster the UK’s growing battery ecosystem.
In recognition of the strategic importance of this project, an unprecedented regional incentives package will be available to the eventual occupier.
This is expected to create favourable conditions for local taxation and access to clean, sustainable power that a world-class battery facility requires.
Speaking at the Labour Party Conference on Monday, Cllr Jim O’Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council said: “The West Midlands Gigafactory site in Coventry is a prime location offering future investors an all-in-one solution for battery manufacturing, research, industrialisation and recycling.
“In addition, we are well-positioned to become an Investment Zone, which will deliver significant additional tax incentives and breaks for future investors.
“I’m pleased to report that we are now in advanced discussions with leading Asian battery manufacturers who want to develop a presence in the UK.
“We hope, with the support of the UK Government, that we will secure an investor and further strengthen our region’s leadership credentials in the shift towards electrification.”