£2.5 billion investment set for Coventry
The plans could see the city's new gigafactory at the 'epicentre' of the green industrial revolution
Last updated 16th Apr 2024
Plans that aim to bring £2.5 billion of investment to Coventry have been announced. The project called ‘Greenpower Park’ seeks to create 6,000 jobs and a “clean energy ecosystem” on the outskirts of the city, it says.
The so-called Park covers the site at Coventry Airport which has been earmarked for a planned battery factory for the last three years. The West Midlands Gigafactory is now billed as the site’s “anchor tenant” under plans.
It is also part of a joint venture between Coventry City Council and the airport’s owners, with the pair first linking up to promote a gigafactory there in 2021. Speaking today (27 March), Cllr Jim O’Boyle denied plans for the hoped for battery factory have been expanded or changed, but said they are instead “evolving in line with how the technology is changing.”
The aim is still to have the biggest gigafactory in the UK here, he told the Local Democracy Reporting Service (LDRS.) But, he said, after discussions with potential investors and landowners, a wider area of the site has potential for investment.
This includes other elements of battery-making like recycling and using these to store clean energy. Cllr O’Boyle also said the amount of jobs and wealth the site at Baginton could create is “very significant in terms of opportunities for local people.”
The news comes after the area was confirmed to be part of an investment zone earlier this month. Government plans state: “Tax incentives will also be used in Coventry-Warwick to help to secure investment for a new battery gigafactory and stimulate clustering of associated businesses and technologies.”
It also comes days after the Sunday Times reported that a Chinese battery firm is on the brink of investing in a gigafactory on the site. A news release for the planned hub says the site is “already attracting keen interest, with a number of Asian battery manufacturers actively considering moving to the site.”