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Japan-owned car battery maker secures £1bn to build second Sunderland gigafactory

Site likely to create 1,000-plus jobs as AESC wins £680m from UK government plus £320m in private finance and equityThe owner of the UK’s only operating gigafactory has secured £1bn in funding for a new electric car battery plant in Sunderland, in a government-backed deal that secures the future of a key project for the struggling British car industry.The funding will allow Japan’s AESC to install tooling and start production of batteries at the site, which is being built to serve Nissan’s car factory down the road. More than 1,000 people are expected to be employed there. Continue reading...

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