Nissan partner firm Envision AESC has attracted £1 billion of investment into a new EV battery factory in Sunderland, priming it to supply cells for the next-generation Nissan Leaf.
The deal comprises £680 million of funding from a group of banks (including BBVA, HSBC, the SMBC Group, Société Générale and Standard Chartered), guaranteed by two UK government bodies, the National Wealth Fund and UK Export Finance. The remaining £320m comes from private financiers and Envision itself.
This will allow Envision to begin tooling up a new factory across the road from its existing plant on the Nissan site on Wearside.
