Nissan has announced that they will produce two new electric car models at the Sunderland which will support thousands of jobs.
The carmaker will produce the new electric Juke and Qashqai and Nissan will make a direct investment of up to £1.12 billion.
Prime Minister Rishi Sunak said: “Nissan’s investment is a massive vote of confidence in the UK’s automotive industry, which already contributes a massive £71 billion a year to our economy.
“This venture will no doubt secure Sunderland’s future as the UK’s Silicon Valley for electric vehicle innovation and manufacturing.
“Making the UK the best place to do business is at the heart of our economic plan.
“We will continue to back businesses like Nissan to expand and grow their roots in the UK every step of the way as we make the right long-term decisions for a brighter future.”
The company’s president and chief executive Makoto Uchida said: “Exciting, electric vehicles are at the heart of our plans to achieve carbon neutrality.
“With electric versions of our core European models on the way, we are accelerating towards a new era for Nissan, for industry and for our customers.
“The EV36Zero project puts our Sunderland plant, Britain’s biggest ever car factory, at the heart of our future vision.
“It means our UK team will be designing, engineering and manufacturing the vehicles of the future, driving us towards an all-electric future for Nissan in Europe.”
Chancellor Jeremy Hunt said: “Today’s news is an enormous vote of confidence in the British economy, just days after we confirmed the most generous investment tax reliefs in the western world.
“Nissan has a proud history in car manufacturing in Sunderland, and their continued commitment to the UK shows how our support for business is getting results – helping create thousands of jobs and solidifying Britain’s place as the world’s eighth largest manufacturer.”
Business Secretary Kemi Badenoch said: “The investment by Nissan in Sunderland shows once again that the Government’s plan for the automotive sector is working.
“The forthcoming advanced manufacturing plan will build on this deal and other recent big investment wins for the UK car industry, helping to support thousands of jobs and drive growth across the UK.”
Sunderland Central’s Labour MP, Julie Elliott, said, “The decision by Nissan today is a great vote of confidence in the Sunderland plant.
“I am glad that the plant’s strong reputation for green technology continues.”