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A Chinese battery giant could pump billions into building Britain’s biggest gigafactory.
EVE Energy is in advanced talks to build a hub for the production of batteries for electric vehicles (EVs) at Coventry Airport.
According to The Sunday Times, the company will commit to investing at least £1.2 billion in a 20 gigawatt hour factory.
There are plans to then expand the site to 60 gigawatt hours, which would be almost twice the size of Nissan’s battery factory in Sunderland and create 6,000 jobs.
A deal would be the result of months of talks between Whitehall and local government officials, including Andy Street, the mayor of the West Midlands.
Plans: EVE Energy is in advanced talks to build a hub for electric vehicle battery production at Coventry Airport
Chancellor Jeremy Hunt was assured of a billion-dollar investment from EVE, one of the largest battery manufacturers in the world.
But the pledge is dependent on hundreds of millions of pounds in British grants.
It would provide a much-needed boost to the car industry, which has been struggling since the demise of Britishvolt last year.
A government spokesman said they do not comment on speculation or the affairs of private companies.