Friday, 24 November 2023

Nissan £2bn Investment

Nissan and its partners have announced a £2bn plan to build three electric car models at its Sunderland factory. The Japanese firm will build electric Qashqai and Juke models at the plant alongside the next generation of the electric Leaf, which is already produced there. The scheme could help preserve the jobs of about 6,000 workers directly, and thousands more across the UK. Nissan said that alongside this, a major new battery plant known as a "gigafactory" will also be needed. Nissan will spend £1.12bn on preparing its UK facilities and supply chain for the new models and training its workforce. Alongside the gigafactory the total new investment will be up to £2bn, according to the company. Post-Brexit trading rules due to take effect in January next year will trigger a 10% tariff on cars sold between the UK and European Union unless carmakers have sourced 45% of their components by value from the UK or EU. The rules were designed to protect the European industry from cheap imports. In September Prime Minister Rishi Sunak announced a major shift in UK green policy by delaying a ban on new petrol and diesel cars by five years, to 2035. Nissan said in September it would not change its timetable, and that it would stick to manufacturing electric vehicles only by 2030. The firm's boss Makoto Uchida said at the time it was the right thing to do for its business, customers and for the planet.