GREENPOWER PARK CALLS ON NEXT GOVERNMENT TO BOOST UK BATTERY INDUSTRY WITH SUPPORT TO ATTRACT VITAL OVERSEAS INVESTMENT

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Jun 28, 2024, 06:00 ET

The next Government needs to take urgent action to attract global battery manufacturers to the UK
Securing battery cell supply is vital for the future of the UK's competitiveness and economic success
Demand for batteries extends beyond the automotive industry alone with additional capacity required across electricity storage, domestic residential and broader emobility sectors
UK has specialist skills needed but requires investment to harness them
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COVENTRY, England, June 28, 2024 /PRNewswire/ -- Today, Greenpower Park, the UK's Centre of Electrification and Clean Energy, has called on the next UK Government to accelerate domestic battery production to attract further global battery manufacturers, as well as the associated supply chain, to invest in the UK.

Securing battery cell supply in the UK today is as vital as securing steel was in the 1940s and 50s. The UK urgently needs to acquire a security of supply for battery cells to ensure the country meets the massive power demands as the world transitions to electric energy use and storage. It's a huge challenge and so far, the UK is lagging behind many other global countries, such as the US, France and Spain, when attracting multiple investors.

"This is not the first time the UK has faced a resource crisis. We ramped up steel supply in the 1940s and 50s to build and replace military and civil equipment and can draw a parallel from this with battery cell demands today. And if we act now, we can still resolve the crisis", comments Richard Moore, Greenpower Park's Battery Strategy Expert.

"The UK has got to get its head out of the sand if it thinks it's going to hit its battery cell targets. The government and stakeholders have been slow to react to battery cell supply demands. If the next government doesn't take action, there will be a major risk to the security of energy supply, which will leave the nation in a perilous state."

Currently, the UK has one operational gigafactory - Envision AESC - which is producing up to 6 GWh of battery capacity per year. According to The Faraday Institution's 2022 gigafactory report, to support the automotive industry alone, the UK will need 100 GWh per annum by 2030 and this is expected to double to 200 GWh by 2040.

However, demand for batteries extends beyond the automotive industry alone and battery capacity will be required across electricity storage, domestic residential as well as broader emobility sectors such as marine and aviation. This demand is expected to grow exponentially in a similar time frame.

Cllr Jim O'Boyle, Cabinet Member for Jobs, Regeneration and Climate Change at Coventry City Council said, "The current Government has made some progress, but we need the next Government to go even further to accelerate the UK's growing battery sector. From automotive to energy storage, there is an urgent need to secure global battery manufacturers along with the associated supply chain to meet the growing demand for electrification in the UK.

Electrification, across all sectors, is of strategic importance for the UK and it needs to be part of the next Government's broader industrial strategy which will ensure that potential investors consider the UK in the future."

Greenpower Park is based in the electrification skills capital of the UK, adjacent to the UK Battery Industrialisation Centre, and within an established network of more than 315 higher, further and vocational educational institutions.

The West Midlands is rapidly becoming the centre of cell and battery research and development in the UK. With access to 800,000 highly-skilled people, the UK battery industry's workforce is on its doorstep. In addition, the UK Greenpower Park has the strongest pipeline of future talent in the country with more than 210,000 students studying relevant degrees in universities across the West Midlands.

Based on the border of Coventry and Warwickshire, Greenpower Park is the only site in the UK that sits within an investment zone which offers significant tax incentives for investors; it has planning permission for a large-scale battery manufacturing facility and has confirmed customer interest from a handful of global battery manufacturers.

Located within the West Midlands Investment Zone, Greenpower Park, including the West Midlands Gigafactory, can offer significant tax incentives and breaks for investors for up to 10 years, including stamp duty, land tax relief, business rate relief on newly occupied premises and national insurance contributions for new jobs created. In addition, there will be support available to develop the supply chain and skills as well as innovation and R&D for electrification and clean energy.

Perfectly placed as a pioneering centre of excellence for battery technology and manufacturing, the Coventry site is the only available site in the UK with planning permission already in place for a large-scale battery production facility with capacity for up to 60GWh per annum, enough to power 600,000 electric vehicles, like this one.

The site is located at the heart of the UK's manufacturing industry in the West Midlands with access to world-class skills, talent and supply chain capabilities in the region. It benefits from a strong transport infrastructure for the future Gigafactory's logistics requirements, supply chain and access for up to 6,000 employees.

As the electrification revolution represents the largest shift in industrial skills for the UK in a generation, the UK Centre of Electrification and Clean Energy, including the West Midlands Gigafactory, is ideally situated to be a catalyst to strengthen the region's high-value skills and research credentials as part of the UK Government's West Midlands Investment Zone.

NOTES TO EDITORS

Media contact: [email protected]

About Greenpower Park

Located at the heart of the UK's manufacturing industry, the Greenpower Park is a trailblazing centre of excellence for electrification, battery technology and manufacturing. With the West Midlands Gigafactory as its anchor tenant, it has unrivalled access to the most highly skilled workforce in the country.

This ground-breaking location is the first of its kind, offering an all-in-one solution for battery research, industrialisation, manufacturing, testing, recycling and electrified logistics designed to foster the UK's growing battery ecosystem.

The Greenpower Park in Coventry sits within the West Midlands Investment Zone which is focused on Advanced Manufacturing, providing significant tax incentives and breaks for investors and it has outline planning permission for a Gigafactory.

Greenpower Park is part of a public private joint venture agreement between Coventry City Council and Coventry Airport Ltd. It has support from a unique alliance of West Midlands industrial groups, local government, and academic institutions. This alliance includes the West Midlands Combined Authority, Warwick District Council, Warwickshire County Council, Rugby Council, Warwick Manufacturing Group at University of Warwick, Coventry University, and the Manufacturing Technology Centre.

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SOURCE Greenpower Park