Fortescue Future Industries, the green energy subsidiary of Australian iron ore producer Fortescue Metals Group, has announced through its official website that it will build a new factory in Banbury, Oxfordshire, creating over 120 job opportunities and significantly expanding its battery and electric powertrain production business in the UK. The company said the Banbury factory, which is set to open in 2024, will offer automated assembly of battery modules and packs, energy conversion and power system assembly, and also support truck and train production.