Magnis Resources accelerates development of NY Gigafactory

Company News

by Rachael Jones

Magnis Resources (ASX:MNS) is working to accelerate development of its New York Gigafactory.

A number of major developments have commenced to fast track the New York Battery Plant into production.

Work on design and process engineering has commenced along with site preparations following the successful move of the battery manufacturing plant from North Carolina to New York.

Equipment manufacturers, engineers and the Imperium3 (iM3) New York team have been closely working together to meet the production time frames.

Local government and environmental approvals are underway with all approvals expected in 2019.

Magnis Resources (ASX:MNS) is to be renamed Magnis Energy Technologies, subject to shareholder approval.

Shares in Magnis Resources (ASX:MNS) are trading 1.49 per cent higher to 34 cents. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.