UK battery firm Britishvolt near collapse as seeks funding
UK battery start-up Britishvolt could run out of money and go into administration after the government rejected a £30m advance in funding.
It is understood the firm wanted to draw down nearly a third of the funding early but the government refused.Britishvolt's so called gigafactory in Blyth, which is not yet built, was expected to create 3,000 jobs. A Britishvolt spokesperson said the company was "aware of market speculation" and was "actively working on several potential scenarios that offer the required stability".Mini move to China unfortunate, minister says
Mr Lavery added: "It is fairly and squarely at the door of the government for basically not agreeing to bring monies forward which will ensure that this project will continue. It is absolutely outrageous - what happened to levelling up?" At the time, former Prime Minister Boris Johnson hailed the investment as a "levelling up opportunity" which would bring "thousands of new highly-skilled jobs to communities in our industrial heartlands".
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