A new £1bn investment in a state-of-the-art gigafactory in Sunderland is set to supercharge the UK’s electric vehicle (EV) capabilities while delivering a significant boost to the local economy. Spearheaded by AESC, the Sunderland gigafactory development will create 1,000 skilled jobs and produce enough batteries to power up to 100,000 electric vehicles annually – representing a six-fold increase in the nation’s battery production capacity. Commenting on the landmark funding, UK Business and Trade Secretary Jonathan Reynolds said: “We’re backing our world-class car industry, and this investment is yet another vote of confidence in the North East’s thriving auto manufacturing hub, which will secure a thousand well-paid jobs and boost prosperity across the region.