Britishvolt has received the financial backing to put its plans to build a large electric car battery ‘gigafactory’ in Northumberland into action.
The UK government has today announced its support for the factory, with an offer being made through the ‘Automotive Transportation Fund’, which is a programme that aims to create ‘sustainable, zero emission automotive supply chain’ jobs in the UK. This aims to meet the government’s plan to drastically reduce the effects of climate change.
No figure on the government’s support has been given, but it’s rumoured to stand at £100m. Private investment currently stands at £1.7bn.
Britishvolt aims to create 3,000 jobs, with 5,000 more planned in the wider supply chain. Construction of the new ‘gigafactory’ in Blyth, Northumberland, began in September 2021, with the plant set to be operational in 2024.
The firm hopes to be able to supply 300,000 battery packs for electric cars each year by 2028, as the company ramps up to create the equivalent of 48GWh of power. There has been no word yet on the car firms that Britishvolt will work with, but it has said it will make a series of follow-up announcements over the next few weeks.
Peter Rolton, executive chairman of Britishvolt, said: “This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution.
“This is a truly historic day and marks the start of a truly exciting move towards a low carbon future. One with Britishvolt batteries at the very centre of that strategy.”
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