Britishvolt Goes Into Administration

HOPES of a British-based battery factory look dead with news that Britishvolt has gone into administration.

The proposed gigafactory, based in the north-east, has been struggling for funding for some time, but it seems a proposed takeover by a group of shareholders failed to cross the line.

EY has been appointed administrator.

Ben Nelmes, Chief Executive of New AutoMotive, an independent green motoring consultancy, said:

“The news that Britishvolt is filing for administration is deeply disappointing, and a blow to the UK’s transition to cleaner, cheaper transport.

“Delays to the government’s Zero Emissions Vehicle (ZEV) mandate have created additional uncertainty around rates of EV uptake and future demand for EV batteries.

“The UK urgently needs a green industrial strategy to prevent the trickle of bad news about the UK car industry turning into a torrent in a few years’ time.”

The requirement for a UK battery manufacturing plant is paramount if British car makers of EVs are going to be successful and lead a green revolution.