Britishvolt, the UK startup which struggled to raise funds for an major electric vehicle battery factory in northern England, filed for administration on Tuesday in a blow to the country’s hopes of building a home-grown battery industry.
after securing a short-term funding lifeline in November to help keep it afloat.
The department said it would continue to work with local authorities and potential investors to secure the best outcome for the site. A majority of Britishvolt’s 300 staff were told on Tuesday they were being made redundant with immediate effect, two sources familiar with the matter said. The British government under former prime minister Boris Johnson had touted Britishvolt’s project as a major milestone toward building an EV industry as the country heads toward a ban on combustion engine cars in 2030.
Britishvolt had only raised around 200 million pounds by summer 2022 and had pushed back its production timeline.
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