by Lauren Almeida and Jasper Jolly on (#6X5Z2)
Site likely to create 1,000-plus jobs as AESC wins 680m from UK government plus 320m in private finance and equityJapan's AESC has announced it will build a second gigafactory in Sunderland to produce electric vehicle batteries, after it secured a 1bn debt funding deal backed by a 680m guarantee from the UK government.The National Wealth Fund and UK Export Finance, both state bodies, will provide financial guarantees that unlock the 680m in financing for the battery maker. A further 320m in debt funding will come from private financing as well as new equity from the business. Continue reading...