The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles.
The British and European car industries had lobbied for a delay in a measure that would have added costly tariffs to many electric vehicles.
The British and European car industries had lobbied for a delay in a measure that would have added costly tariffs to many electric vehicles.
The company said it would build three electric models at its plant in northeast England, bolstering the future of Britain’s auto industry.
The move is a boost for Britain’s car industry, but uncertainty remains about the sector’s future in the country.
The factory, made possible by government subsidies, could produce nearly half of the electric-car batteries needed in Britain by 2030.
The factory, made possible by government subsidies, could produce nearly half of the electric-car batteries needed in Britain by 2030.
Stellantis said post-Brexit export rules and the lack of a domestic battery manufacturer could force it to close its plants in Britain.
The failure of Britishvolt is a blow to Britain’s plans to promote the manufacture of electric cars, and threatens the future of its automotive industry.
The Japanese carmaker will also manufacture a new electric vehicle in England as part of a £1 billion investment, partially supported by the government.