Fortescue Metals, an Australian mining company, is set to expand its battery and electric powertrain production operations in the UK with the establishment of a new plant in Oxfordshire, according to Fortescue Future Industries (FFI), its green power arm. The facility, located in Banbury, is expected to commence operations in 2024 and will complement Fortescue’s existing Oxfordshire facilities, including the Kidlington factory slated to open later this year.
FFI stated in a press release that the first prototype build is targeted for July or August, with the completion of the initial mining haul truck module scheduled for August 2023.
Kemi Badenoch, the Business and Trade Secretary, expressed her enthusiasm for the development, highlighting the positive impact it will have on the electric vehicle supply chain and the economy. The new plant is anticipated to generate more than 120 highly skilled jobs, contributing to economic growth.
Fortescue, known as the world’s fourth-largest iron ore producer, is diversifying its operations by venturing into the production of green hydrogen derived from renewable sources through its FFI unit. The company aims to establish itself as a global leader in renewable energy.
With this expansion into the UK, Fortescue Metals reinforces its commitment to advancing sustainable and environmentally friendly technologies, positioning itself at the forefront of the renewable energy sector.
