Britishvolt set to be bought by Australian firm
An Australian firm has been named as the preferred bidder for Britishvolt, the UK battery start-up which collapsed last month.
EY, the accountancy firm and administrator to Britishvolt which has been overseeing the sale, said: "Completion of the acquisition is expected to occur within the next seven days."Little detail has emerged on its plans for the Britishvolt business which had hoped to build a £3.8bn factory as part a long-term strategy to boost the UK's manufacturing of electric vehicle batteries.It had been hoped it would create 3,000 skilled jobs.
David Collard, chief executive of Scale Facilitation and founder of Recharge Industries, said it "can't wait to get started making a reality of our plans to build the UK's first gigafactory". Indriatti van Hien, deputy fund manager at Janus Henderson Investments, told the BBC: "The acquisition of Britishvolt will really give them a toe-hold in Europe.Britishvolt's collapse was a blow to the government's "levelling up" agenda started by former Prime Minister Boris Johnson.
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