The joint venture behind a planned £2.5 billion gigafactory in Coventry has announced it is injecting £1 million into the project in order to kickstart work and attract global investors.
Coventry City Council and Coventry Airport say the capital will allow them to minimise pre-construction delays by undertaking detailed design on highways infrastructure and other technical work so it can become operational as quickly as possible.
The money will also be used to market the proposed 5.38 million sq ft factory as an investment opportunity across the world, with a focus on potential backers in China, South Korea and the US.
