Nissan plans more UK investment as it rolls out green technology
Nissan will lift recent investments in its British plant to more than 1 billion pounds ($1.4 billion) in the next few years as it rolls out greener technology, the company said as it showcased its latest Qashqai car on Thursday.
The Japanese carmaker decided in 2016 to build the vehicle in Britain in what was seen as a key vote of confidence just months after the Brexit referendum raised uncertainty over its trading relationship with the European Union.
On Christmas Eve last year London and Brussels struck an agreement that allows for tariff-free trade as long as local content thresholds are met.
Nissan said in January it would source more batteries in Britain as a result, and on Thursday its Europe boss Gianlucca de Fichy told reporters it planned further investment.
“We’ve invested over 400 million pounds so far in our English factory, and we are planning over the coming years to exceed the 1 billion investment mark, including due to the introduction of e-Power which will come to market soon,” he said.
Asked about cross-manufacturing with alliance partner Renault, de Ficchy said Nissan was working closely with the French automaker.
“We continue to cooperate with Renault and study the opportunities that might arise, in terms of car models and technology,” he said. “We’re exploring all avenues.”
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
