Skip to main content

Britishvolt gets £100m boost to build UK’s first large-scale ‘gigafactory’

The deal to build an electric car battery plant near Blyth will bring up to 3,000 jobs to the area by 2028

The UK government will invest £100m in Britishvolt as the car battery manufacturing startup seeks to build Britain’s first large-scale “gigafactory” in the north-east of England.

The government’s Automotive Transformation Fund will invest alongside asset management company Abrdn and its majority-owned property investment arm, Tritax, to fund a sale and leaseback deal for the huge building that will house the electric car battery factory, near Blyth in Northumberland.

Continue reading...

Comments

Post a Comment

Popular posts from this blog

EU carmakers pave way for Chinese rivals as balance in market shifts

Many European motoring manufacturers are in retreat with plants to off–load – while China’s industry is on the march Chinese carmaker Xpeng is on the hunt for a factory in Europe. Volkswagen is aiming to reduce the number of its factories. It seems like it should have been the perfect set-up for a deal. Yet there was one problem with the plant on offer, according to Elvis Cheng, Xpeng’s managing director of north-eastern Europe: “It’s a little bit, I would say, old.” Continue reading...
Post a Comment
Read more

Nissan open to making cars for Chinese partner in Sunderland, says CEO

Ivan Espinosa says UK plant will not be hit by cost cuts as Japanese firm reveals seven factories to close Business live – latest updates Nissan’s new chief executive has said the Japanese carmaker would be open to building cars for a Chinese partner at its factory in Sunderland as he confirmed it would not be closed in a round of deep cost cuts. This week Nissan revealed plans to close seven factories and cut 20,000 jobs after sustaining heavy losses. Continue reading...
Post a Comment
Read more

UK new car buyers drive a bargain as average discount nears £6,000

Motorists benefit as industry offers deals of up to 18% off to attract buyers for petrol, diesel and electric models If you are considering buying a new car, now might be the time to act as new data shows manufacturers and dealers slashing prices by more than 10%, with the average discount close to £6,000. The typical discount available across all petrol, diesel and electric cars sold in the UK is 11.4% of the on-the-road price – the equivalent of £5,911 – according to Insider Car Deals , which sells discount data to people looking to buy. Continue reading...
Post a Comment
Read more