Plans revealed for £1.2bn gigafactory that would power 6,000 jobs

A £1.2bn gigafactory is being planned next to Coventry Airport which would significantly expand the UK’s electric car industry.

Reports in the Sunday Times suggest that Chinese battery maker EVE Energy is plotting to become a major player in the new Centre of Electrification on the outskirts of Coventry in a move which could create up to 6,000 jobs.

The initial £1.2bn will establish the gigafactory, with further tranches of money seeing it grow to twice the size of Nissan’s battery site in Sunderland.

A Government spokesman said: “We are determined to ensure the UK remains one of the best locations in the world for automotive manufacturing as we transition to electric vehicles, while ensuring taxpayer money is used responsibly and provides best-value.

“We do not comment on speculation or the commercial affairs of private companies.”

The news comes at a time when the electric vehicle industry is experiencing a turbulent time. Government net zero timelines have slipped, with many car manufacturers using this as an a reason to delay investment into the sector.

However, Tata, which owns Jaguar Land Rover, said it February it was investing £4bm to build a gigafactory in Somerset.

Electric vehicle manufacturers will be hoping EVE Energy’s mooted investment will kick-start an industry that has been stifled in recent times.