Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Tesla eyes UK sales with Milton Keynes warehouse deal

by April 12, 2023
April 12, 2023
Tesla eyes UK sales with Milton Keynes warehouse deal

Tesla is close to signing a deal to rent a new warehouse in Milton Keynes to boost sales of its electric cars in Britain.

The electric-vehicle maker, headed by Elon Musk and founded in Silicon Valley’s Palo Alto in 2003, is in advanced talks to lease Trammell Crow’s 338,000 sq ft project, to establish what would be the company’s first major UK warehouse, according to React News, the property website.

The facility is expected to be created in conjunction with DB Schenker, the logistics group, which specialises in the storage and transportation of lithium batteries used to power electric vehicles.

Tesla is hoping to capitalise on the rising adoption trend in Britain that saw March achieve a record 46,626 electric cars registered – an 18.6 per cent year-on-year rise, according to the Society of Motor Manufacturers and Traders. Tesla’s Model Y was the top-seller in the category, with 8,123 units.

Tesla previously considered establishing a UK gigafactory in 2020. Despite the Britishvolt site in Tees Valley and Gravity Park in Somerset having been mooted as prospective locations, no plans have yet come to fruition.

Tesla is understood to have agreed a long-term lease at a rent of about £13 per sq ft – a figure that would substantially eclipse the current record rent for logistics in the Milton Keynes area. According to research by Savills, the real estate agent, the current high water mark for units of more than 100,000 sq ft is £9.75 per sq ft.

All parties were unavailable or declined to comment.

The move to increase sales in the UK follows the announcement on Monday that Tesla is increasing investment in China at a time of mounting tension between Washington and Beijing with a deal to build a battery factory in Shanghai.

The electric carmaker said it would make its Megapack large-scale energy storage unit at the plant. It already has a factory for electric vehicles in Shanghai.

Construction is scheduled to begin in the third quarter of this year, with the plant expected to start production in the second quarter of 2024.

It is aiming to produce 10,000 Megapacks a year, equal to about 40 gigawatt hours of energy storage. The company said each unit could store enough energy to power an average of 3,600 homes for one hour.

Read more:
Tesla eyes UK sales with Milton Keynes warehouse deal

0
FacebookTwitterGoogle +Pinterest
previous post
Powervault secures £3.8 million to grow British-made electricity battery storage
next post
Skarper secures additional £4m in funding for innovative click-on, click-off eBike technology

You may also like

Celebrating Old Reptonians Who Fought in the Battle...

December 21, 2022

Chancellor Urged to Boost Electric Car Sales with...

March 4, 2024

M&S reopens online orders after cyberattack disruption

June 10, 2025

ASOS sells majority stake in Topshop and Topman...

September 5, 2024

Chinese EV battery maker in talks to invest...

March 25, 2024

Alarm over sharp rise in Airbnb listings in...

October 18, 2022

Made.com plans to cut a third of staff...

September 23, 2022

Online safety bill ‘opens door to surveillance’, tech...

April 19, 2023

Sky Sports presenter loses IR35 appeal in latest...

April 21, 2023

The Decline of Threads App: A Promising Start...

August 15, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Jill Biden’s ‘work husband’ runs for cover as privilege protection crumbles

      June 26, 2025
    • Poll: Majority of Republicans back Trump’s strikes on Iran; most Americans fear getting dragged into war

      June 25, 2025
    • Senate Republicans look to sweeten Medicaid pot to silence dissent on Trump’s ‘big, beautiful bill’

      June 25, 2025
    • Judicial nominee shuts down ‘wildly inaccurate’ claims that he’s Trump’s ‘henchman’

      June 25, 2025
    • Tesla’s European sales fall for a fifth month in a row

      June 25, 2025
    • World leaders flock to meet with Trump at NATO Summit

      June 25, 2025

    Categories

    • Business (8,314)
    • Investing (2,072)
    • Politics (15,806)
    • Stocks (3,168)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved