The UK government has made a final funding offer to Britishvolt, a premier battery technology development business, under the Automotive Transformation Fund for its projected Gigaplant in Northumberland.
The government has made a final grant offer to Britishvolt under the Automotive Transformation Fund for its proposed Gigaplant in Northumberland.
The facility is expected to produce enough batteries for over 300,000 electric vehicles per year, significantly assisting the UK automotive industry’s transition to a zero-emissions future and permitting the increasing production of electric vehicles. This ground-breaking initiative is expected to generate 3,000 direct high-skilled employment and another 5,000 indirect opportunities across the supply chain.
Britishvolt CSO Isobel Sheldon OBE remarked on the funding announcement:
“We want to applaud the UK government for its support for this crucial investment, which will generate over 3,000 direct and 5,000 indirect employment while also strengthening the UK’s technology foundation and playing a key part in helping the country meet its net zero objective by 2050.” The Britishvolt Gigaplant will provide both jobs and industries for the future.”
“This is fantastic news for our aspirations to build Northumberland’s finest battery cell Gigaplant.”
While the vast bulk of the project’s finance will come from private sources, the ATF’s grant support is critical in demonstrating that the UK government is confidence in our ability to execute on our objectives, which will assist to encourage more private investment. It’s a clear sign of the government’s electrification agenda in the race to zero.
“I am glad to report we have now awarded Britishvolt with a final funding offer under the Automotive Transformation Fund,”
said Business Secretary Kwasi Kwarteng. The Blyth gigafactory will accelerate our efforts to establish a globally competitive electric car supply chain in the UK, and it is exciting to see how the project is coming along.
“The large site will guarantee that Britain fully reaps the benefits of the thriving global electric car sector.”
The well-paying employment and economic growth it will bring to the North East of England will be transformative, which is why we are investing to make the UK the best country in the world for automotive production.”
The Automotive Transformation Fund is an £850 million initiative designed to electrify Britain’s automotive supply chain and ensure the country’s worldwide competitiveness.
The project was first announced by the government in January 2022.
Britishvolt’s purpose is to advance society’s electrification; the firm is committed to developing sustainable, low-carbon batteries as part of the decarbonization plan.
Our civilization must race to zero, and batteries are critical to a successful energy transition. The goal of Britishvolt is to produce some of the most environmentally friendly battery cells on the earth, primarily for use in electric vehicles.