Coventry and Warwick Gigapark
The Coventry and Warwick Gigapark is a 251ha area that consists of four adjacent sites on the border of Coventry City and Warwick District.
A joint venture between Coventry City Council and Coventry Airport Ltd, the site aims to build on the area’s longstanding competitive advantage in advanced manufacturing, to attract a cell manufacturer/investor/operator to the UK Greenpower Park. Outline planning permission is already in place for 5.7m sq ft of industrial space specifically for use as a gigafactory at the site.
Market Ask
The JV would like to speak to battery manufacturers and capital investors to join the JV to develop out well-established plans for the Gigapark.
The investment has been significantly de-risked by local government, with significant funds allocated to improving utilities and transport infrastructure around the site. Devolved funding from the UK Government is likely to bring further investment in the creation of a dedicated Investment Zone at the site, which would allow for potential incentives such as business rates reductions and enhanced capital allowances.
There are currently no operational gigafactories in the UK, compared with 300 globally and 40 in Europe – this despite projections that the global electric vehicle market will grow to $823.75bn by 2030. By 2040, UK demand for electric vehicle battery manufacturing capacity is expected to reach 200GWH (Faraday Institution, 2022) – equivalent to 10 gigafactories, each with a 20GWH output. Beyond requirements for vehicle and off-highway batteries, the future of the UK electricity grid is increasingly renewable, requiring a huge step-change in energy storage to overcome peaks and troughs in production.
The West Midlands – and the Coventry and Warwickshire region in particular – is the heartland of UK car production. One-third of all British-made cars and one in four UK engines roll off the region’s production lines, powered by a 46,500 strong workforce.
More recently, the area has emerged as the UK’s R&D centre for battery technology and automotive innovation, and is home to leading centres for development and testing, such as the Advanced Propulsion Centre, the National Automotive Innovation Centre and the UK Battery Industrialisation Centre. The region’s strong talent pipeline is assured thanks to two exceptional universities in Warwick and Coventry.
Coventry and Warwick Gigapark provides access to this existing world-class ecosystem. Its adjacent sites complete the proposition, providing the opportunity for vital ancillary activity associated with mass-scale battery manufacture development, including supply chain activities, recycling, skills development and logistics.
Taken as one, the site forms a unique and strategically important catalyst for accelerating the growth and development of the West Midlands’ electric vehicle and future mobility sectors, and wider Advanced Manufacturing sectors. It’s well connected, central location provides investors with immediate access to global markets and an existing innovative supply chain.
Location
Coventry and Warwick Gigapark at the UK Greenpower Park is located at the heart of the UK’s automotive sector, close to headquarters and engineering sites for global brands such as JLR, Aston Martin Lagonda, Toyota, BMW/Mini, Lotus, Polestar, TVS, BSA (Mahindra) and Rimac.
With 90% of the UK accessible within 4 hours, the site offers strong road and rail links to both the UK’s main seaports and chemicals industry, as well as international connectivity via Birmingham Airport just 20km away.
Planning
Outline planning permission is already in place for 5.7m sqft of industrial space specifically for use as a Gigafactory at the site, with the Local Planning Authority part of the delivery JV.
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