Britishvolt UK gigafactory battery plan collapses into administration

► What next for gigafactory plans?

Britishvolt made the majority of its 300 staff redundant with immediate effect. It told employees that the money had run out at an all-hands meeting on Tuesday, according to those present.reports that Britishvolt collapsed into administration on the morning of 17 January 2023. A board meeting earlier in the week exhausted all avenues for a possible rescue bid and a late takeover offer from shareholders had been thwarted by creditors, it said. EY was appointed as an administrator.

Saddened genuinely by this :(

TimPollardCars 🤣🤣🤣

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Startup Britishvolt calls in administrators in blow to UK's EV battery hopesBritishvolt, the UK startup which struggled to raise funds for an major electric vehicle battery factory in northern England, filed for administration on Tuesday in a blow to the country's hopes of building a home-grown battery industry. Exactly as expected. Won't happen in UK w/o gov't funding. Frustrating. Brexit delivers again!
Source: Reuters - 🏆 2. / 97 Read more »