🔋 An Australian startup has been named as the new owner of Britishvolt, after the electric-vehicle battery firm went into administration last month
after the battery start-up ran out of cash, forcing it to lay off almost all of its 200 remaining staff.struggled to raise funds for a major electric vehicle battery factory in northern England and stay afloatplans for a huge factory to make car batteries for electric vehicles in the North EastProspects for a major UK manufacturer of batteries to power electric vehicles were severely undermined by its collapse.
EY’s restructuring arm EY-Parthenon was appointed administrators of Britishvolt in January after the company struggled to raise funds for a major electric vehicle battery factory in northern England and stay afloat. While Britishvolt is small, the Blyth site is considered by industry experts to be Britain’s best “shovel-ready” location for a battery factory, with plenty of renewable power available.