By Jaime Llinares Taboada
Britishvolt said Friday that it has secured funding support from the U.K. government, Tritax Group and Abrdn PLC to build a large battery factory for electric vehicles in Northumberland, England.
The lithium-ion battery company said it has received an in-principle offer of government funding for the project through the Automotive Transformation Fund.
This offer has enabled Britishvolt to enter into a long-term partnership with Tritax and Abrdn which will deliver 1.7 billion pounds ($2.31 billion) of private funding.
The company said its plans for the full-scale plant are moving ahead, and expects to announce deals with customers and research-and-development agreements over the next few weeks.
Advanced construction works started in September after the project received planning permission in July. Britishvolt is targeting production to start in late 2023 or early 2024, and wants to have a manufacturing capacity of more than 30 gigawatt-hours by 2030.
“This new battery factory will boost the production of electric vehicles in the U.K., whilst leveling up opportunity and bringing thousands of new highly-skilled jobs to communities in our industrial heartlands,” Prime Minister Boris Johnson said.
Write to Jaime Llinares Taboada at [email protected]; @JaimeLlinaresT
