Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Posted By Global Banking and Finance Review

Posted on January 16, 2025

Nissan's Sunderland plant to get EV powertrain supply from new JATCO UK factory

(Reuters) - Japanese automaker Nissan's factory in Sunderland, UK is set to receive a supply of up to 340,000 electric vehicle (EV) powertrains annually from JATCO Ltd's new factory nearby, the latter said on Thursday.

The plant is scheduled to be completed in 2026, the automatic transmission manufacturer added, and is supported by a grant from the British government, which has set tough EV mandates for the UK auto industry.

Nissan, like other global legacy carmakers, has been grappling with competition from Chinese EV makers. The company is in the midst of talks to merge with another Japanese auto major Honda by 2026 and has planned cuts to jobs and global manufacturing capacities to reduce costs.

The company said in 2023 it would invest $1.4 billion in its Sunderland plant to build electric versions of two car models.

"Welcoming a key supplier to the North East of England provides a big boost to the efficiency of our supply chain," said Alan Johnson, senior vice president, manufacturing, supply chain and purchasing for Nissan Africa, Middle East, India, Europe and Oceania.

The 138,840 square feet facility with a 48.7-million-pound ($59.5 million) investment will create up to 183 jobs in the port city of Sunderland, said JATCO, which also has overseas production plants in Mexico, China and Thailand.

($1 = 0.8186 pounds)

(Reporting by Aby Jose Koilparambil and Yadarisa Shabong in Bengaluru; Editing by Janane Venkatraman and Vijay Kishore)

Recommended for you

  • Exclusive-Russia's 2024 seaborne oil product exports hit by headwinds, including drone attacks

  • Netflix's sports push likely fueled subscriber growth in holiday quarter

  • TPG, Transneft throw out jailed Russian mogul's $14 billion UK lawsuit