Britishvolt enters administration

It had been in talks for a majority sale of the business, but these discussions appear to have failed.  

Following the collapse, talks have been held with two parties interested in taking on the Britshvolt site, with this being confirmed by Northumberland’s council leader Glen Sanderson.  

The firm, which has made the majority of its 232 staff redundant with immediate effect, had planned to build a £3.8bn factory on the site in Blyth to build electric batteries and had been hailed by ministers as a “levelling up” opportunity. It was a part of a long-term vision to boost UK manufacturing of electric vehicle batteries and create around 3,000 skilled jobs.  

Dan Hurd, one of the joint administrators of the business and a partner at EY-Parthenon, said: “Britishvolt provided a significant opportunity to create jobs and employment, as well as support the development of technology and infrastructure needed to help with the UK’s energy transition. 

“It is disappointing that the company has been unable to fulfil its ambitions and secure the equity funding needed to continue. Our priorities as joint administrators are now to protect the interests of the company’s creditors, explore options for a sale of the business and assets, and to support the impacted employees.”