Investment Proposition
The Gigafactory site is located at Coventry Airport represents the potential for 4.5 million sq. ft. of commercial space. It is located adjacent to Jaguar Land Rover’s global HQ and to the UKBIC – positioning the site as an ideal location for a battery plant. Outline planning permission is currently being submitted for the site
It will provide high volume battery manufacturing facilities to drive advances in the high-tech automotive industry as well as a wide range of future mobility products. It would also create over 10,000 jobs across the region and its initial £250million of funding could leverage over £2bn of private sector investment: clearly demonstrating the economic power of the green industrial revolution.
One of the Gigafactory’s unique selling points is its potential to become one of the world’s first circular battery factories, building on the region’s academic and business expertise in battery technology. Given the rapid increase in demand for lithium and other scarce raw materials, there is a need to increase efficiency in the use of these materials and to ensure that they can be recovered and recycled at the end of their life. The West Midlands has a burgeoning cluster of innovative companies and research institutes working in this space to build the supply chain and skills required.