UK commits £380m to Agratas as part of £700m EV push

The UK government has announced a £380m (US$482.6m) grant for Agratas to support construction of one of Europe’s largest gigafactories, at a site in Somerset that will produce battery cells for anchor customer JLR. The funding forms part of a broader package exceeding £700m (US$889m) directed at the advanced manufacturing sector, which the government said has secured 4,200 jobs.

The Somerset facility will generate an estimated £43bn (US$54.6bn) in economic value over 25 years when fully operational, according to the government, and will support 4,200 direct jobs alongside thousands more in the supply chain and 300 apprenticeships. Over 2,200 people are expected to be working on the site within the next year.

Alongside the Agratas grant, the government announced £190m (US$241.3m) for the wider automotive industry, including £90m (US$114.3m) in DRIVE35 funding for companies including Nissan and JLR, and £100m (US$127m) for suppliers in the North East and West Midlands to support the transition to electric vehicle (EV) manufacturing. A further £47m (US$59.7m) has been allocated to battery research and development through the Battery Innovation Programme.

In a statement, Earl Wiggins, Vice President of Manufacturing Operations for Agratas in the UK, said: “This funding will support the development of our Somerset facility, enabling us to produce battery cells for our anchor customer, JLR. Over the next year we will have over 2,200 people working on the site, and that growth will continue over the coming years.”

Source: GOV.UK