UK battery start-up Britishvolt expected to fall into administration, with 300 employees made redundant
Britishvolt had also planned to open a new battery development centre.
But both industry and government sources remain confident that this plant will eventually be built - whoever ends up owning it. However, the Labour chairman of the Commons Business, Energy and Industrial Strategy Committee said the government needed to do more to support the UK's electric vehicle industry.
The founders of Britishvolt were trying to create a £4bn facility, from scratch, without the backing of a major manufacturer. The question is, what happens next? Speak to pretty much anyone in the motor industry, and they'll tell you that without gigafactories, the long-term future for UK manufacturing looks bleak.
He warned it was "very bad news for the whole industry", adding: "The only positive will come if it spurs government into action to secure a partnership between itself, the industry and battery manufacturers that can succeed into the long-term."
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Britishvolt files for administration as rescue talks fail\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
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Britishvolt files for administration as rescue talks fail\n\t\t\tJournalists in 50+ countries follow the constant flow of money made and lost in oil & gas while\n\t\t\ttracking emerging trends and opportunities in the future of energy. Don’t miss our exclusive\n\t\t\tnewsletter, Energy Source.\n\t\t
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