The British government announced on May 9 that Vision Dynamics UK's Sunderland Gigafactory has received 1 billion pounds of financing, which can supply batteries for up to 100,000 electric vehicles every year, a six-fold increase over the UK's current production capacity. The statement said that the UK National Wealth Fund and the UK Export Finance Agency will provide financing guarantees to obtain £680 million in financing from banks such as Standard Chartered Bank, HSBC, Sumitomo Mitsui Financial Group, Société Générale, and Spanish Foreign Bank. This capital will be used for the construction and operation of the new plant. The remaining £320 million of capital was obtained through private financing and new share capital provided by Vision Dynamics.

Zhitongcaijing · 6d ago
The British government announced on May 9 that Vision Dynamics UK's Sunderland Gigafactory has received 1 billion pounds of financing, which can supply batteries for up to 100,000 electric vehicles every year, a six-fold increase over the UK's current production capacity. The statement said that the UK National Wealth Fund and the UK Export Finance Agency will provide financing guarantees to obtain £680 million in financing from banks such as Standard Chartered Bank, HSBC, Sumitomo Mitsui Financial Group, Société Générale, and Spanish Foreign Bank. This capital will be used for the construction and operation of the new plant. The remaining £320 million of capital was obtained through private financing and new share capital provided by Vision Dynamics.