Britishvolt 'seeking stability' after gigafactory funding blow

Britishvolt’s £3.8 billion plan to create an electric vehicle (EV) battery production plant in the North East could be on the verge of collapse after a Government funding knock-back, reports suggest.

Over 3,000 direct highly-skilled jobs and a further 5,000 indirect jobs would be created if plans for the ‘gigafactory’, earmarked for a site near Blyth, Northumberland, progress.

But it is understood that efforts to facilitate the early draw down almost a third of a £100 million funding boost previously committed by Ministers might have stalled the project.