UK’s Britishvolt secures funding for EV battery gigaplant
Plant designed to produce 300,000 lithium-ion EV battery packs a year, with startup schedule for late 2023 or early 2024
UK battery technology company Britishvolt has secured £1.7bn ($2.3bn) of private funding plus UK government support for a planned £3.7bn electric vehicle (EV) battery gigaplant in Blyth, Northumberland. The private investment is from logistics and real estate investor Tritax and asset management company Abrdn. The government has made an “in principle offer” of funding though its Automotive Transformation Fund. The new plant, to be developed on the site of a coal yard used by the former Blyth power station in Cambois, is scheduled to start up in the fourth quarter of 2023 or early 2024. The plant will build enough lithium-ion cells each year for over 300,000 EV battery packs. “Britishvolt wil
Also in this section
1 May 2024
Abundant storage and low cost of capturing CO₂ from sharply rising gas production mean NOC’s ambitious CCUS targets look well within reach
29 April 2024
Decarbonisation push and shifting multilateral trade policy sharpens continent’s need for carbon trading
29 April 2024
Canada’s oil sands producers need policy certainty to make the multibillion-dollar investments needed to achieve net zero, Pathways Alliance president Kendall Dilling tells Carbon Economist
25 April 2024
Carbon capture rates forecast to rise steadily from end of decade, but policy tools to drive large-scale deployment have yet to take shape, according to DNV