Business minister boasted Britishvolt was Brexit success story months before collapse

and had been promised government funds worth £100m, but the grant was dependent on finding private investors for the project.

Some Tories are hoping that a new buyer can still be found for the company, but the majority of its 300 staff were immediately made redundant after it collapsed into administration last Tuesday. It follows BMW’s decision in October to stop building the electric version of the Mini in the UK. Its Oxford plant will then only be making petrol models for the foreseeable future.

“Britain has to have battery factories if we are to continue making cars in this country. Labour has an industrial strategy, including a commitment to part-invest in eight gigafactories alongside industry. If we want to see investment in Britain we need a government willing to be the partner business needs.”

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Davos day 4: global economic outlook in focus; Russia heading for ‘incredible poverty’ – business liveRolling coverage of the final day of the World Economic Forum Have the Targarions got the loan yet?
Source: GuardianAus - 🏆 1. / 98 Read more »

Meet the head of a $1b business who earns less than $450 a weekMiriam Gluyas, the new Salvation Army Commissioner for Australia, has some grand plans for the 142-year-old organisation.
Source: FinancialReview - 🏆 2. / 90 Read more »