A round-up of latest news-in-brief from the region...
Britishvolt and Prologis team up to create “battery corridor”
Battery pioneer Britishvolt will anchor its UK battery scale up facilities in the West Midlands, with an investment exceeding £200 million, with partner Prologis creating and sustaining upwards of 150 highly skilled and well-paid technology job.
The West Midlands is already a “golden triangle” of international battery excellence with the Warwick Manufacturing Group, Advanced Propulsion Centre and UK Battery Industrialisation Centre. This new investment and commitment to the region will further unlock the huge economic potential of the UK’s world-class battery cell ecosystem.
Geely-owned Polestar lists successfully on Nasdaq
Polestar has successfully listed on the Nasdaq stock exchange. The US listing marks a significant milestone for the electric-premium car brand that launched in 2017. The premium electric brand, spun out of Volvo, is headquartered in Sweden but its engineering team is based in the UK, in Nuneaton at MIRA and in Coventry.
JLR may build EVs at Slovak plant
TATA Motors owned Jaguar Land Rover is in talks with Northvolt and SVolt Energy Technology about supplying batteries for a range of EVs it may assemble in Slovakia, Bloomberg sources said.
The UK lacks the cell and pack factories automakers will need to support their transition away from the internal combustion engine so, in what would be a fresh blow to British car making.
UK auto faces competitive threat from energy price hikes, as SMMT launches new roadmap
The SMMT warns that automotive sector energy costs are much higher for UK companies than those based in the EU. British automotive manufacturers are calling for urgent action on spiralling costs as new analysis from the Society of Motor Manufacturers and Traders (SMMT) reveals firms face a GBP90m uplift in energy bills this year – equivalent to more than 2,500 automotive jobs – as costs surge by 50%.
New roadmap, ‘From Full Throttle to Full Charge’, sets out measures on energy, skills and funding to drive large-scale investment and support competitiveness.
Leadership change at London EV Company
The chief executive of Ansty-headquartered LEVC has revealed plans to step down to pursue a new opportunity within the automotive industry.
Joerg Hofmann, who joined the company in February 2019, has overseen a number of notable highlights at the business, including 7,000 global sales of the TX electric taxi, the launch of a new light commercial vehicle, the VN5, and growth in demand for its purpose-built electrified products in UK and internationally.
Plans afoot to accelerate West Midlands Gigafactory plans
Coventry City Council and Coventry Airport Ltd, the partners behind the West Midlands Gigafactory, are investing a further £1m between them to speed up the proposal in order to reduce barriers to investment and attract global investors.
Detailed designs for highway infrastructure and technical work are being carried out, as are global marketing opportunities, with a focus on potential investors in China, South Korea, and the US.
Advanced Propulsion Centre handed significant net zero funding boost
Coventry-based Advanced Propulsion Centre has received £43.7m in funding for projects accelerating the UK’s journey towards net zero.
The joint investment by the Department for Business Energy and Industrial Strategy and the automotive sector looks to continue the UK’s post-pandemic growth and continue the UK’s leading role in the fight against climate change. The funding has been split across 21 projects, comprised of 19 Automotive Transformation Fund (ATF) feasibility studies and two late-stage research and development projects.
Electric cars drive Coventry industrial boom
Coventry industrial rents are set to rise over the next three years as demand continues to rise and outstrip supply, thanks to manufacture of electric vehicles and their components, says regional expert Carole Taylor, the Midlands Regional Managing Partner at property consultancy Vail Williams.
This comes as the city reinvents itself as the Midlands’ leading centre of advanced manufacturing for the automotive, rail, aerospace and motorsport industries. These sectors employ over 40,000 people, earning Coventry a reputation as a top city for UK employment.
University of Warwick selected for science innovation grant
The University of Warwick has been awarded £2.2m as part of a £60 million Government drive to help pioneering scientists and engineers create successful businesses from their research, improve industrial collaboration, and foster greater entrepreneurship.
The money will go towards a number of initiatives, plus allow the University to fund secondments for scientists and engineers to spend time in a business environment.
Maersk Lands in Dordon
European industrial developer and investor Panattoni has signed Danish shipping and logistics group Maersk for Tamworth 345, a 345,414-square-foot speculative development located between Dordon and Tamworth, at junction 10 of the M42.
Mystery occupier takes 1m sq ft in Rugby
A mystery storage and information management services firm has taken 1m sq ft of space at Tritax Big Box’s Symmetry Park Rugby. The unnamed company has leased the logistics facilities to create its first UK campus across four buildings on a 15-year deal.
BAM appointed as contractor for Nuneaton town centre development
BAM Construct UK, has been confirmed as the construction partner for phase one of Nuneaton town centre’s Abbey Street development. It has already completed initial works involving fencing, ground investigations and remediation ahead of new leisure developments, public open spaces and the building of the town centre’s first hotel. The phase one work has been funded with a grant from the Future High Streets Fund as part of the Government’s plan to renew and reshape town centres – making them a more attractive place to live, work and visit.
Historic Leamington property converted into modern offices
A transformation of a six-storey Grade II-Listed Regency building in the heart of Leamington has been completed, providing flexible new office space.
11 Waterloo Place on Warwick Street has now opened its doors following major internal refurbishment to create modern office space and state-of-the-art meeting rooms.
20-year vison for A46 corridor will boost economy by more than £7bn
Sub-national Transport Body Midlands Connect has presented its 20-year vision for the A46 corridor, with improvement plans predicted to boost the economy by £7.1 billion over the next 60 years.
The 155 mile major cross-country route runs right the heart of Warwickshire and is home to a variety of sectors, including automotive, aerospace, advanced manufacturing, textiles and agriculture. Projections suggest significant growth is expected for the corridor over the next 20 years, with 600,000 new residents, 150,000 new jobs and 250,000 new homes expected by 2041.