Wed, 26 Feb 2025

Wed, 26 Feb 2025 Battery firm announces gigafactory plan

A battery firm from Coventry announces plans to build a gigafactory by 2030.

* Volklec, a battery firm, has held talks with Coventry City Council about building a £1bn gigafactory at Coventry Airport.
* The company will start producing batteries at the UK Battery Industrialisation Centre and aims to build a gigafactory in five years.
* £25.25m of taxpayers' money has been committed to the project since 2021, but no firm had previously agreed to invest.
* A gigafactory at Coventry Airport would create up to 1,000 jobs and produce batteries for electric vehicles.
* Councillor Jim O'Boyle is "very confident" that central government will provide grants to support the project.
* Volklec's first batteries are expected to be produced by the end of the year, with an initial 100 jobs created.
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