Britishvolt has selected Blyth in the UK to build a $3.6-billion battery gigaplant. It is one of the biggest industrial investments in North East England after Nissan in 1984.
Soumen's key takeaways:
- The UK is planning to ban sales of petrol and diesel cars from 2030. This gigaplant will add momentum to the shift to electric vehicles (EVs) not only in the UK but also Europe.
- European countries are adopting EVs at a faster pace than China. This will create a huge demand for battery packs and related parts. Therefore, major international players like Tesla are building gigafactories in Europe.
- Moreover, it will create more job opportunities for skilled and unskilled people in the supply chain.
- This plant will be operational from 2023 and produce over 300,000 lithium-ion batteries from 2027.