'Williams Advanced Engineering to be acquired for 164 million pounds'

24-01-2022 12:34 | Updated: 24-01-2022 14:08
by GPblog.com
General
'Williams Advanced Engineering to be acquired for 164 million pounds'

Williams Advanced Engineering, the engineering arm founded by Williams' British Formula One team, is likely to be acquired by mining company Fortescue Metals Group. The Australian company has been working with Williams since 2021.

Becoming carbon neutral

Fortescue is working with Williams Advanced Engineering to develop electric batteries to reduce the use of diesel. According to the news agency Reuters, Fortescue is now planning to completely take over Williams' engineering branch.

Williams previously worked with the iron ore company to power an electric truck. Meanwhile, plans are also afoot to create an electric train. Andrew Forrest, the founder of Fortescue, aims to become one of the greenest companies in the world.

The price tag

At the end of March, Fortescue plans to acquire Williams Advanced Engineering for £164 million. From 2030, Fortescue hopes to operate carbon neutrally.

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