British battery start-up enters administration 

January 17, 2023
British battery start-up enters administration 
Share:

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.”
 
PREVIOUS ARTICLE
Super-grippy, rapid-adjustment water-pump pliers from Laser Tools
NEXT ARTICLE
Philips RacingVision GT200 wins best buy award

More from GARAGE WORKSHOP

It starts with Ring

It starts with Ring

icon Renowned auto accessory specia...
Shape the future of the bilstein range with FANS

Shape the future of the bilstein range with FANS

icon The bilstein group is constant...
Schaeffler’s REPXPERT Millionaire promotion returns – with a makeover

Schaeffler’s REPXPERT Millionaire promotion returns – with a makeover

icon For the past two years, Schaef...
Volvo boost pressure fault

Volvo boost pressure fault

icon A  customer recently brou...
Variations in VAG tensioner pulleys

Variations in VAG tensioner pulleys

icon There are different versions o...
GS Yuasa to partner European Drift Champion Baggsy 

GS Yuasa to partner European Drift Champion Baggsy 

icon GS Yuasa, a global leader in b...

More from AUTOBIZ