Britishvolt, a battery producer that it was hoped would spearhead UK EV battery making, has entered administration after rescue talks failed, with 300 employees facing redundancy. 

The company had planned to build a large battery manufacturing facility near Northumberland, but the project had stalled due to lack of funding. It was hoped the business could be sold, but talks with potential buyers failed and an administrator was called in. 

The proposed factory development was seen as a key element in future electric vehicle production in the UK and would have produced 300,000 electric vehicle battery packs a year. 

Dan Hurd, joint administrator and partner at EY-Parthenon, commented, “Britishvolt provided a significant opportunity to create jobs and employment, as well as support the development of technology and infrastructure needed to help with the UK’s energy transition. It is disappointing that the company has been unable to fulfil its ambitions and secure the equity funding needed to continue.”