Nissan Commits $2.5 Billion to Expand UK Electric Vehicle Production
Nissan, the Japanese automaker, has announced plans to invest £2 billion (approximately $2.5 billion) in its electric vehicle (EV) business in the UK. As part of this investment, the company aims to build three new EV models at its Sunderland plant in northeast England, as well as construct a third battery factory. The production is expected to include electric versions of the Qashqai, Juke, and LEAF models.
The proposed investment brings Nissan’s total capital commitment in the UK to £3 billion, after an initial $1 billion pledge. This move follows the company’s announcement in September that it intends to only sell electric vehicles in Europe 2030.
Nissan’s CEO, Makoto Uchida, emphasized the company’s commitment to achieving carbon neutrality through electric vehicle development. He stated, “Electric vehicles are at the heart of our plans to achieve carbon neutrality. With electric versions of our core European models on the way, we are accelerating towards a new era for Nissan, for industry and for our customers.”
The announcement has been welcomed in the automotive industry, which has faced challenges following the UK’s 2016 decision to leave the European Union. Prime Minister Rishi Sunak lauded Nissan’s commitment, expressing the government’s support for businesses like Nissan to expand and thrive in the UK.
The injection of funding from Nissan comes at a time when the automotive sector in the UK has seen pledged investments from companies like Jaguar, Land Rover, Tata, and BMW. It reflects a positive outlook for the industry and points towards a brighter future.
Business Insider reached out to Nissan for comment, but they were unable to respond at the time of inquiry.