Chinese EV battery manufacturer EVE Energy is set to invest £1.2 billion in building what would be the UK's largest gigafactory in Coventry, according to a report.
EVE, which was founded in 2001 and claims to be the world's largest manufacturer of cylindrical EV batteries, produces units for car makers including BMW and employs nearly 30,000 people.
Negotiations over the West Midlands Gigafactory project, which was first announced back in 2021, are said to be in the "advanced" stages, with The Sunday Times reporting that a deal could be signed "within weeks".
The plan is for the Coventry factory to produce up to 20GWh of batteries per year when it first opens.
