Sunderland, United Kingdom– Japanese auto giant Nissan will invest up to £1.12 billion to build electric models of two best-selling cars in Sunderland, northeast England, supporting thousands of jobs, it said Friday.
The carmaker will plough the cash into electric versions of its best-selling Juke and Qashqai models in Sunderland, which is its largest factory in Europe and employs around 6,000 people.
“Nissan’s latest investment includes up to £1.12 billion ($1.4 billion) into its UK operations and wider supply chain for R&D (research and development) and manufacturing of the two new models announced today,” it said in a statement.
The news will spark further investment in infrastructure projects and the broader supply chain, including a new electric car battery factory, which could bring the total investment up to £2 billion.
“Exciting, electric vehicles are at the heart of our plans to achieve carbon neutrality,” said Nissan President and CEO Makoto Uchida.
“With electric versions of our core European models on the way, we are accelerating towards a new era for Nissan, for industry and for our customers.”
The news comes as Britain looks to take a leading role in the production of electric cars as companies and governments accelerate away from fossil-fuel vehicles.
“Nissan’s investment is a massive vote of confidence in the UK’s automotive industry, which already contributes a massive £71 billion a year to our economy,” said British Prime Minister Rishi Sunak, who will attend a formal announcement at the site later on Friday.
“This venture will no doubt secure Sunderland’s future as the UK’s Silicon Valley for electric vehicle innovation and manufacturing.
“Making the UK the best place to do business is at the heart of our economic plan.”