Nissan has hailed Brexit as an “opportunity” for the Japanese carmaker as it unveiled a £1bn deal to create Britain’s first electric car battery gigafactory in Sunderland.
The Japanese company has confirmed a £423m investment in Britains biggest car plant to start production of a new electric vehicle at the site.
To support the model, Chinese battery producer Envision-AESC is spending £450m building a battery factory next door, which will deliver power packs for the vehicle.
Ashwani Gupta, chief operating officer of Nissan, said: The key success factor for Brexit has always been trade-friendly business conditions to sustain our business, not only in the UK but in the whole of Europe. 
Thanks to Brexit, Nissan is moving forward to use Brexit as an opportunity. 
His comments mark a significant departure from warnings issues by the carmaker last November when it suggested it could be forced to pull out of the UK if the Government failed to strike a post-Brexit trade deal. 
Mr Gupta added that the project, which is supported by £100m from the taxpayer, demonstrated the renaissance of British car industry and called the Government an equal partner in the creation of what is expected to become a European hub for the production of electric vehicles. 
He insisted that Government financial support is important but not the most important factor in the decision to invest in the plant.
Mr Gupta said: What gave us the ability to do this is the close political ambition with business ambition.”
A further £80m of investment led by Sunderland council will create a microgrid of solar and wind farms to power the energy-intensive factories with green energy, with the system utilising batteries from old electric vehicles to create a stable flow of power. 
It is understood the taxpayer is providing funding to support the investments, with the Treasury tapping its £500m war chest to transform Britain’s car industry from petrol and diesel vehicles to electric ones.   
About 1,650 jobs will be created at Nissan and the new gigafactory, while a further 4,500 roles are expected to be added in the supply chain. 
Confirmation of the rumoured investment is a huge boost for the UK car industry, especially after Nissan hinted it could pull out of the UK if the government failed to secure a trade deal, because it faced rising costs as a result of Brexit.