Britishvolt secures funding for Blyth battery factory

Britishvolt secures funding for Blyth battery factory

UK battery company Britishvolt has received an in-principle offer of government funding through the Automotive Transformation Fund (ATF) for its planned gigafactory in Blyth, Northumberland.

Once complete, Britishvolt's factory should produce enough batteries for over 300,000 electric vehicles each year, supporting the UK automotive industry’s transition to a zero emissions future and increased production of electric vehicles.

The government’s support for the gigafactory should in theory help to unlock significant further support from private investors. Alongside private sector investment, the project is set to create 3,000 direct highly-skilled jobs and another 5,000 indirect jobs in the wider supply chain.

"Today’s news is a major boost for Britain and a resounding vote of confidence in the North East economy," said Kwasi Kwarteng, Business Secretary.

"Britishvolt’s planned gigafactory will not only enable the UK to fully capture the benefits of a booming electric vehicle market, but will bring thousands of highly-skilled, well-paid jobs to the North East."

Although the amount of funding has not been confirmed by Britishvolt or the government, it has been mentioned in various media outlets - such as Autocar and Reuters, citing a source familiar with the matter - that Britishvolt has secured a £100 million grant.

Preliminary work on the construction of the factory has been underway since September. Shortly before Christmas, it was also announced that Britishvolt had ordered production machinery from German company Manz. Delivery of the equipment is scheduled for 2023, with production starting towards the end of the same year.

Olly Goodall

Author:Olly Goodall
Date Updated:24th Jan 2022

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