Britishvolt has secured 100 million GBP in government funding though the Automotive Transformation Fund for its UK gigafactory in Blyth, Northumberland. The factory is set to produce batteries for 300,000 electric vehicles each year.
The UK government has invested in this project to push ahead with a transition to zero-emission vehicles. Indeed, the Automotive Transformation Fund aims to create a sustainable automotive supply chain within the UK.
In addition to targeting the country’s climate targets, the project will create 3,000 direct highly-skilled jobs and 5,000 indirect jobs through the supply chain.
Prime Minister Boris Johnson, said:Backed by government and private sector investment, this new battery factory will boost the production of electric vehicles in the UK, whilst levelling up opportunity and bringing thousands of new highly-skilled jobs to communities in our industrial heartlands.
Electric vehicles are rapidly growing in popularity, with British consumers buying more electric cars in 2021 than the previous five years combined. Britishvolt’s planned gigafactory for electric vehicle batteries therefore responds to this increased demand and will aid the UK government’s plan to end the sale of new petrol and diesel cars by 2030.
The transformation and development of the 93-hectare gigafactory site is already underway by Britishvolt’s construction partner, ISG. Progress is also being made to support the design process for the necessary onsite infrastructure. It is therefore expected that the factory will operate at full capacity by the end of the decade.
Kwasi Kwarteng, Business Secretary, said:In this global race between countries to secure vital battery production, this government is proud to make the investment necessary to ensure UK’s retains its place as one of the best locations in the world for auto manufacturing.
