(Reuters) – Australian miner Fortescue Metals is expanding its battery and electric powertrain production operations in the UK with a new plant in Oxfordshire, its green power arm Fortescue Future Industries (FFI) said on Monday.
The Banbury facility will open in 2024 and operate alongside Fortescue’s other Oxfordshire facilities including the Kidlington factory which will open later this year, FFI said in a press release.
The new plant will focus primarily on manufacturing of heavy industry, electric and zero-emission powertrain systems and will offer automated assembly for battery modules and packs.
The company is targeting the first prototype build for July or August, with the first mining haul truck module due for completion in August 2023.
“This new state-of-the-art site will bolster the UK’s electric vehicle supply chain and create over 120 highly skilled jobs, helping to grow our economy,” said Business and Trade Secretary Kemi Badenoch.
The world’s fourth largest iron ore maker, Fortescue is expanding into production of hydrogen from renewable resources, known as green hydrogen, under its Fortescue Future Industries (FFI) unit, and aims to become a global powerhouse in renewable energy.
(Reporting by Jaskiran Singh in Bengaluru; Editing by Kim Coghill)