Musk primed for UK investment as Britain’s first gigafactory to make Tesla-style batteries

Britishvolt has already agreed to send some test battery cells to an unspecified leading European car manufacturer and has negotiated early-stage supplier relationships with three other continental firms on top of their existing arrangements with Aston Martin and Lotus.

Some commentators have expressed some scepticism about Britishvolt’s capacity to compete with established firms like Panasonic (Japan), LG Chem (Korea) and CATL (China).

However, Mr Nadjari said there is opportunity in Europe — which is only expected to have 30 gigafactories in operation by the end of the decade, compared with China’s 226.

He said: “The entire supply–demand imbalance in Europe actually directly affects the United Kingdom and Britishvolt.

“It doesn’t matter how many you build right now, you will have a shortage of supply.”

Furthermore, he explained, most cars made in Europe will also need to source their batteries locally in order to comply with the EU’s rules of origin.

On top of this, an automotive industry looking to up its green credentials can hardly afford to be shipping weighty batteries all the way from China.

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Article source: https://www.express.co.uk/news/science/1630245/elon-musk-primed-uk-investment-first-gigafactory-britishvolt-make-tesla-style-batteries