Here’s all you need to know about Gigafactories in five simple points so that you too can be cool …

  1. What? Gigafactories create batteries from scratch, starting with raw materials and ending with the finished battery pack. They will also recycle old batteries.
  2. Why? Gigafactories are being built in order to meet the demand for battery cells as a result of the exponential growth in the electric vehicle market.
  3. How? Each Gigafactory employees thousands of people, working across truly MASSIVE sites. Tesla’s Gigafactory in Nevada is the world’s second largest building by volume.
  4. Where? 70% of the world’s battery production is currently in Asia, leaving UK OEMs exposed to supply chain risks and the UK Government potentially exposed to UK OEMs looking at different markets.
  5. When? Under the Brexit deal 50% of EV batteries need to comprise UK or EU sourced materials by 2023. Failure to do so would result in tariffs on vehicles exported from the UK to the EU.

I feel cooler already, but I was starting from a low base!