The UK government announces that the Faraday Battery Challenge Sunderland super factory has secured £1 billion in funding

Zhitong
2025.05.10 01:29

On May 9th, the UK government announced that Envision AESC's Sunderland super factory in the UK has secured £1 billion in financing, which can provide batteries for up to 100,000 electric vehicles annually, increasing the UK's existing capacity sixfold. The statement said that the UK National Wealth Fund and UK Export Finance will provide financing guarantees to secure £680 million in financing from banks such as Standard Chartered Bank, HSBC, Sumitomo Mitsui Financial Group, Société Générale, and Banco Santander. This funding will be used for the construction and operation of the new factory. The remaining £320 million will be obtained through private financing and new equity provided by Envision AESC

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