EV battery producer Britishvolt confirms plans for UK gigafactory with £1.7bn funding deal
British electric vehicle battery producer Britishvolt has today confirmed plans for a new gigafactory in the North East through a £1.7bn funding deal.
The firm has secured investment through the government’s Automotive Transformation Fund and private funding from Trixtax and abrdn.
The new plant, which will be in Blyth, is expected to create 5,000 jobs throughout its supply chains and build enough cells for 300,000 electric vehicle batteries every year.
Peter Rolton, Britishvolt executive chairman, said: “This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution.”
It comes as the government has recently increased its drive to get more electric vehicles on the road over the next decade.
The sale of petrol and diesel cars will be banned from 2030, while the government recently unveiled new regulations that will force the developers of new buildings to install electric vehicle charging points from 2022.
“Backed by government and private sector investment, this new battery factory will boost the production of electric vehicles in the UK, whilst levelling up opportunity and bringing thousands of new highly-skilled jobs to communities in our industrial heartlands,” Boris Johnson said.