Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched 
BOJ Minutes Reveal Growing Debate Over Interest Rate Hikes and Inflation Risks 
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market 
Nike Stock Jumps After Apple CEO Tim Cook Buys $2.9M Worth of Shares 
Oil Prices Rise on Venezuela Sanctions and Nigeria Airstrikes Despite Annual Losses 
US and Japan Fast-Track $550 Billion Strategic Investment Initiative 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Asian Markets Rise as AI Rally Caps 2025, Gold and Silver Hit Record Highs 
Italy Fines Apple €98.6 Million Over App Store Dominance 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Nissan is investing $1.38 billion or £1 billion for its plans to construct a “gigafactory” in Sunderland, U.K. This was announced by the Japanese automaker on Thursday, July 1.
The massive plant will not only be beneficial for Nissan’s business, but it will definitely offer a major boost to the region’s electric vehicle plans. As per CNBC, the company headquartered in Yokohama, Japan, will soon launch the project for the gigafactory called “Nissan EV36Zero.”
Nissan to focus on EV business in the UK
The automaker is building the new electric battery plant in partnership with Envision AESC. This will be the new EV hub in the UK, and with its size, it is expected to create thousands of jobs for the locals.
Nissan will open at least 1,650 new positions at the gigafactory in Sunderland City. Since this is a project supported by two companies, 900 jobs will be available for Nissan, while the remaining 750 will be for the Envision AESC.
On Thursday, Nissan’s chief operating officer, Ashwani Gupta, said in an interview on CNBC’s “Squawk Box Europe” that the company’s decision to build the battery factory for electric vehicles is a move that demonstrates Nissan’s roadmap to carbon neutrality.
With its plans, Nissan joined other major auto companies that are aiming to focus on the development of batteries for EV cars. This month, Renault and Volkswagen have also expressed their intention to venture into EV batteries, and they are also building gigafactories for this business in Europe.
Nissan’s electric car expansion
BBC News added that Nissan will also invest in the production of a new generation of EVs in the United Kingdom. From the £1 billion investment, it was mentioned that £423 million will go to EV production.
Once the gigafactory is completed, Envision is expected to provide batteries for up to 100,000 Nissan EVs per year. Both Nissan and Envision are hoping that the new factory will already be operational by 2024 since the U.K. is banning the sale of petrol or diesel-powered vehicles starting in 2030.
"The key success factor for Brexit has always been trade-friendly business conditions to sustain our business not only in the UK but in the whole of Europe and thanks to Brexit, Nissan is moving forward to use Brexit as an opportunity," Gupta said.
