A driver plugs a cable into a Source power point to charge his electric car in London, Britain, October 19, 2018. REUTERS/Simon Dawson/File photo Jun

UK in talks with 6 firms to build gigafactories for EV batteries -FT

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2021-06-16 12:00:19

A driver plugs a cable into a Source power point to charge his electric car in London, Britain, October 19, 2018. REUTERS/Simon Dawson/File photo

June 16 (Reuters) - Britain is in talks with six companies for building gigafactories to produce electric vehicle batteries, the Financial Times reported on Wednesday, citing people briefed on the discussions.

Ford Motor Co (F.N), Nissan Motor Co Ltd (7201.T), LG Corp (003550.KS), Samsung (005930.KS) and start-ups Britishvolt and InoBat Auto are in talks with the British government or local authorities about locations for potential factories and financial support, according to the report. (https://on.ft.com/3wu1eYz)

The British government's plan to prohibit the sale of new petrol and diesel cars by 2030 and hybrids by 2035 will require the country's vehicle plants to shift to producing electric models.

A UK business department spokesperson said "to support the auto sector’s transition to electric vehicles" the government is "dedicated to securing gigafactories, and continue to work closely with investors and vehicle manufacturers to progress plans to mass produce batteries in the UK".