UK battery startup Britishvolt has fallen into administration and there are fears its failure represents a broader issue with the future of the automotive industry in the UK.
Britishvolt had grandiose plans to become a huge supplier of batteries for electric vehicles. It was working on a $5.1 billion gigafactory in Northumberland with the promise of creating 3,000 jobs and producing 30 gigawatt hours of batteries by 2030. It would have been able to produce enough cells for 300,000 battery packs per year and the British government said it would invest £100 million ($123 million) into the company were it to hit certain goals.
Read Article