Britishvolt – the UK start-up that promised to build a £3.8billion gigafactory in the north-east of England – has entered administration. The company’s circa 300 staff were given the news on the morning of Tuesday 17 January, according to the BBC, with the majority expected to be laid off.
The news will come as a major blow to the UK automotive industry, with Britishvolt seen as a landmark project to boost the country’s production of EV components. The project was saved from administration in November 2022 after securing additional funding, but the board has now decided that there’s no way to continue.
The Society of Motor Manufacturers and Traders has previously emphasised that the UK needs several gigafactories to ensure the future success of its automotive industry as petrol and diesel are phased out.
The factory, in Blyth, Northumberland, had been a key part of the government’s ‘levelling-up’ policy commitments under former prime minister Boris Johnson, with a proposed manufacturing capacity capable of producing up to 300,000 electric car batteries a year.
Incorporated in late 2019, Britishvolt had originally planned for production of batteries to begin at the factory in late 2024. In August, the company announced that this would be delayed until the middle of 2025.
Britishvolt never secured any customers for its proposed battery technology, but had signed memorandums of understanding with both Lotus and Aston Martin to develop technologies suitable for use in those company’s electric vehicles.
The factory, in Blyth, Northumberland, had been a key part of the government’s ‘levelling-up’ policy commitments under former prime minister Boris Johnson, with a proposed manufacturing capacity capable of producing up to 300,000 electric car batteries a year.
Incorporated in late 2019, Britishvolt had originally planned for production of batteries to begin at the factory in late 2024. In August, the company announced that this would be delayed until the middle of 2025.
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