Banbury set for new WAE factory as Fortescue expands battery and electric powertrain operations

By Giles Gwinnett

21 June 2023

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The move is part of Fortescue’s plans grow its British presence. Picture contributed

Banbury is set to become home to a new state-of-the-art facility, which will produce a wide range of zero-emission products for the off-road sector and create more than 120 new jobs.

The move is part of Australia-based firm Fortescue’s plans grow its British presence through its acquisition of British manufacturer WAE Technologies (WAE), formerly Williams Advanced Engineering, which was established over a decade ago to commercialise ground-breaking technology developed by Williams F1.

Following entry-into-force of the Australia-UK Free Trade Agreement (FTA), it means Fortescue is significantly expanding its UK manufacturing capability to supply advanced batteries and electric powertrains globally.

The UK's business and trade secretary Kemi Badenoch, who recently visited Oxfordshire, said: "Fortescue’s investment in Oxford shows how this government is creating the right conditions to encourage cutting-edge advanced manufacturing companies to invest in the UK.

"This new state-of-the-art site will bolster the UK's electric vehicle supply chain and create over 120 highly skilled jobs, helping to grow our economy."

The new facility will ensure that Australia and the UK build sovereign capability in an area of central importance to future economic development and is another key win of the UK Government’s free trade agenda, said WAE.

The factory, which is set to officially open in 2024, will span over 13,500 square metres (sq m) and house highly skilled engineers, technicians, apprentices and graduates. A hiring campaign has started now and interested applicants are asked to see HERE.

It will focus mainly on manufacturing heavy industry, electric/ zero-emission powertrain systems and have automated assembly for battery modules and packs, assembly of power conversion and power systems, as well as truck and train production support.

Fortescue chairman Dr Andrew Forrest said: "With Fortescue’s investment, British engineering will be at the cutting edge of the green energy economy with WAE’s battery systems providing world leading technology to the entire global industrial sector.

"It is heartening to have the UK’s Trade Secretary today at our factory in Oxfordshire to support this message of British technology excellence for both its people and its highly attractive working environment.”

The first prototype build is targeted for July/August 2023 with the first mining haul truck module due for completion in August 2023.

WAE Technologies can trace its foundations back to 2010 when Williams Grand Prix Engineering Limited began diversifying its operations - a division which later became Williams Advanced Engineering.

WAE has grown from an embryonic business in 2010 to an independent company which employs over 600 people engaged in leading-edge and transformative technologies for a growing list of Tier 1 clients. Its acquisition by Fortescue was completed in March last year.

By Giles Gwinnett

Giles Gwinnett is a writer at The Business Magazine. He has been a journalist for more than 20 years and covered a vast array of topics at a range of media settings - in print and online. After his NCTJ newspaper training, he became a reporter in Hampshire before moving to a news agency in Gloucestershire. In recent years, he has been covering the financial markets along with company news for an investor-focused web portal. His many interests include politics, energy and the environment. He lives in Dorset.