Announcement
09 May 2025
In May 2025, the UK government announced support for AESC’s new gigafactory in Sunderland through financial guarantees and a GBP 150 million grant, as part of a broader GBP 1 billion investment aimed at accelerating electric vehicle battery production and safeguarding automotive jobs.
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
09 May 2025
Revocation date:
No revocation date
Announced: 09 May 2025
Financial grant
In force
Recent update from 11 Mar 2026:
On 9 May 2025, the UK government allocated GBP 150 million (USD 199 million) in grant funding from the Automotive Transformation Fund to support the development of a new AESC gigafactory in Sunderland...
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Announced: 09 May 2025
Loan guarantee
In force
Recent update from 11 Mar 2026:
On 9 May 2025, the UK government announced that the National Wealth Fund and UK Export Finance will provide financial guarantees to support GBP 680 million (USD 903.7 million) in financing for the con...
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