A revolutionary advancement in the United Kingdom's automotive sector is set to take place with the establishment of a state-of-the-art electric vehicle (EV) battery facility in Sunderland. This ambitious project, spearheaded by AESC, Nissan’s long-standing battery collaborator, represents an investment of £1 billion ($1.33 billion). The new factory will not only create 1,000 employment opportunities but also amplify the nation's EV battery output sixfold, sufficient to support 100,000 electric vehicles annually. Operating entirely on carbon-neutral energy, this 12 GWh capacity plant marks AESC's second such venture in Sunderland and underscores Britain's commitment to becoming a leading force in global EV manufacturing while advancing its sustainability objectives.
Financial backing for this monumental initiative comes from both governmental and private sectors. With significant assistance from the National Wealth Fund and UK Export Finance, major financial institutions like HSBC, Standard Chartered, SMBC Group, Societe Generale, and BBVA have committed £680 million towards financing the construction and operational phases of the plant. Complementing this are £320 million sourced from private investments and fresh equity contributions from AESC itself. Additionally, the Automotive Transformation Fund has allocated £150 million in grant funding. Coinciding with the recent UK-US trade agreement that slashes car export tariffs significantly, this development could potentially save manufacturers substantial costs and bolster high-income employment opportunities within regions such as Sunderland.
This transformative endeavor aligns perfectly with the broader economic strategies being pursued by the UK government. During her visit to AESC's Sunderland premises, Chancellor Rachel Reeves highlighted how this investment builds upon the historic trade pact signed with the US. Such partnerships exemplify the importance of international cooperation in driving industrial growth while safeguarding jobs. By embracing cutting-edge technology powered by renewable resources, the UK positions itself at the forefront of sustainable transportation solutions, paving the way for a cleaner and more prosperous future. As nations worldwide strive toward reducing their carbon footprints, initiatives like these demonstrate the potential of collaboration between public entities and private enterprises to foster innovation and economic resilience.
Japanese automakers Mitsubishi and Nissan are set to collaborate on a new battery electric vehicle (BEV) model, which is scheduled to arrive in the United States by summer 2026. This upcoming EV will be based on the next-generation Nissan LEAF. The partnership signifies Mitsubishi's commitment to its "Momentum 2030" long-term business strategy, focusing on electrification and product line expansion across North America. The company also plans to introduce or significantly update one vehicle annually from 2026 to 2030, starting with the recent launch of the 2025 Outlander SUV.
Mark Chaffin, President and CEO of Mitsubishi Motors North America (MMNA), emphasized Mitsubishi’s growing momentum, particularly in the U.S. market. During a presentation last May, he shared details about the Momentum 2030 plan, sparking excitement among dealer partners who sought clearer timelines and strategies. Today's announcement underscores Mitsubishi's dedication to offering top-tier vehicles for customers while ensuring sustained growth globally.
This collaboration builds upon previous successful partnerships between Mitsubishi and Nissan, including the current-generation Mitsubishi Outlander and its plug-in hybrid version. These models received positive reviews from automotive experts, highlighting their appeal in the SUV segment.
The Momentum 2030 initiative extends beyond just vehicle development. It envisions modernizing retail sales models, expanding dealership networks, and boosting overall sales performance. Through this comprehensive approach, Mitsubishi aims to solidify its position as a leader in the rapidly evolving electric vehicle industry.
With the introduction of innovative EVs and strategic business enhancements, Mitsubishi demonstrates its readiness to embrace the future of sustainable transportation. The upcoming BEV, derived from the advanced design of the next-gen Nissan LEAF, promises to captivate consumers seeking cutting-edge technology and eco-friendly options. As Mitsubishi continues to roll out exciting new products, the company is poised to strengthen its presence not only in the U.S. but around the world.