Britain’s car industry relies on petrol or diesel vehicles – and every failure to be part of the electric revolution makes it more exposed
Britishvolt enters administration as rescue talks fail
The battery startup Britishvolt eyed a big opportunity. With the looming UK ban on sales of internal combustion engine cars after 2035, big demand for batteries was guaranteed. The problem was actually building the batteries.
The company’s efforts have now come to nothing. It collapsed into administration on Tuesday after funding talks failed, leaving a string of disappointed backers ranging from the FTSE 100 companies Glencore and Ashtead to the property investor Tritax, owned by investment group abrdn, which had committed to fund a battery “gigafactory” in Northumberland.
Continue reading…Britain’s car industry relies on petrol or diesel vehicles – and every failure to be part of the electric revolution makes it more exposedBritishvolt enters administration as rescue talks failThe battery startup Britishvolt eyed a big opportunity. With the looming UK ban on sales of internal combustion engine cars after 2035, big demand for batteries was guaranteed. The problem was actually building the batteries.The company’s efforts have now come to nothing. It collapsed into administration on Tuesday after funding talks failed, leaving a string of disappointed backers ranging from the FTSE 100 companies Glencore and Ashtead to the property investor Tritax, owned by investment group abrdn, which had committed to fund a battery “gigafactory” in Northumberland. Continue reading…