UK battery company Britishvolt given £100m investment

UK battery company Britishvolt has been given £100 million by the UK government for a new factory.

The government said the planned “gigafactory” in Blyth, Northumberland is set to produce 300,000 electric vehicles each year.

The investment will produce 3,000 direct highly skilled jobs and another 5,000 indirect jobs in the wider supply chain according to the government.

The funding was delivered by the Automotive Transformation Fund (ATF), a new government programme which seeks to help create an electrified automotive supply chain at scale in the UK.

The news comes after the government committed to ban the sale of new petrol and diesel vehicles from 2030 in November 2020.

In June 2021, it was reported that Ford, Nissan, LG Corp, Samsung, and electric vehicle (EV) start-up InoBat Auto were in talks with the UK government over building EV battery factories.

“Today’s news is a major boost for Britain and a resounding vote of confidence in the Northeast economy,” said business secretary Kwasi Kwarteng. “Britishvolt’s planned gigafactory will not only enable the UK to fully capture the benefits of a booming electric vehicle market, but will bring thousands of highly-skilled, well-paid jobs to the North East”.

He added: “In this global race between countries to secure vital battery production, this government is proud to make the investment necessary to ensure the UK retains its place as one of the best locations in the world for auto manufacturing.”

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