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Britishvolt ‘collapsed owing £120m’ as UK car industry reports dismal year

Several bids are understood to have been made for assets of failed electric vehicle battery startup

The battery startup Britishvolt owed as much as £120m to creditors when it collapsed last week in a major blow to hopes of sustaining the British car industry, it can be revealed.

Creditors are expected to recover a very small proportion of the debts, according to a source with knowledge of the matter, although there are understood to be several bids for the company and its assets. EY, a professional services firm, is handling the administration.

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