BritishVolt receives government funding to support development of gigaplant

Battery technology company Britishvolt has confirmed that it is to receive funding from the UK government through its Automotive Transformation Fund run by the Advanced Propulsion Centre UK.

The funding will support Britishvolt’s plans to build a £3.8bn advanced technology battery cell gigaplant in Northumberland.

At full production it is envisaged enough battery cells will be produced for more than 300,000 lithium-ion batteries a year.

Business secretary Kwasi Kwarteng said: “I’m delighted to confirm we have now provided Britishvolt with a final grant offer through the Automotive Transformation Fund. The Blyth gigafactory will turbocharge our plans to embed a globally competitive electric vehicle supply chain in the UK and it is fantastic to see how the project is progressing.

“The vast site will ensure Britain can fully capture the benefits of the booming global electric vehicle market. The well-paid jobs and growth it will generate for the north-east of England will be transformational and are exactly the reason we are investing to make the UK the best place in the world for automotive manufacturing.”

Isobel Sheldon, chief strategy officer of Britishvolt explained: “This is great news for our plans to construct the UK’s premier battery cell gigaplant in Northumberland. While the overwhelming majority of investment for the project will come from private sources, the ATF’s grant funding is very important in proving that the UK government is confident that we will deliver on our plans, and this will help to generate further private investment. It’s a clear indicator of the government’s policy towards electrification of society in the Race to Zero.

“We want to thank the UK government for its support for this critical investment which will create over 3,000 direct and 5,000 indirect jobs, and that will also strengthen the UK’s technological base and play a key role in helping the country reach its net zero target by 2050. The Britishvolt gigaplant will create both the jobs and the industry of the future.”