What Britishvolt’s Collapse Means for the Future of UK Innovation and Industry (Business Opportunities - Other Business Ads)
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Item ID 9719059 in Category: Business Opportunities - Other Business Ads
What Britishvolt’s Collapse Means for the Future of UK Innovation and Industry | |
When Britishvolt went bust in early 2023, many people were shocked. Here was a company that promised to bring thousands of jobs, help the UK lead the way in electric vehicles, and breathe new life into a proud industrial town. Instead, it ran out of money, construction stopped, and around 200 people lost their jobs almost overnight. But this wasn’t just a story about one company getting it wrong. Britishvolt’s collapse says something bigger about where the UK is headed, and what we need to get right if we want to stay in the game, especially in industries like electric cars and green tech.Britishvolt launched in 2019 with a bold plan to build a massive battery ‘gigafactory’ in Blyth, Northumberland. It would power the next generation of electric vehicles, create over 3,000 jobs, and turn a former coal port into a modern hub of clean energy innovation. There was genuine excitement. The government said it would put in up to £100 million if the company hit certain construction milestones. Big investors like Glencore backed it. And for Blyth, a place that’s seen more than its share of industrial decline, it felt like a rare bit of good news.But things started to unravel. By early 2023, Britishvolt had burned through its money. There was no real progress on the factory, no confirmed customers for the batteries, and confidence among investors had dried up. The company folded, leaving many questions and a giant empty plot of land. | |
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| Target Nation: All Nations Target City : Norwich Last Update : 21 May 2025 8:41 AM Number of Views: 38 | Item Owner : Jamie Playford Contact Email: Contact Phone: 08002461845 |
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2025-06-15 (0.222 sec)