<ul><li>Japanese EV battery maker AESC secures £1 billion government-backed funding for expansion in Sunderland to serve Nissan's car factory, creating over 1,000 jobs.</li><li>Funding includes £680m financial guarantees from National Wealth Fund and UK Export Finance, with additional £320m debt funding and new equity from AESC.</li><li>The investment in Sunderland aims to boost sustainable transport, innovation, and job creation in the region, according to Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds.</li><li>AESC's Sunderland gigafactory to initially provide 15.8GWh of annual capacity for 300,000 EVs, with plans for further expansion, following Nissan's investment in electric car manufacturing in the region.</li></ul>

UK Government Backs AESC EV Battery Plant In £1bn Deal

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