Britishvolt, the electric vehicle (EV) battery technology company, has confirmed that it is to receive funding from the UK Government through its Automotive Transformation Fund run by the Advanced Propulsion Centre UK following a confirmation letter.
The total investment for Britishvolt’s Blyth gigaplant in Northumberland is around £3.8 billion. This makes it the largest industrial investment in North East England since Nissan’s arrival in 1984 and one of the largest-ever industrial investments in the UK. This shows the UK Government sees the future of the UK auto industry as electric.
At full production, enough battery cells will be produced for more than 300,000 lithium-ion batteries a year. The facility is expected to employ over 3,000 people directly in skilled jobs, with another 5,000 in the wider supply chains.
Isobel Sheldon OBE, Britishvolt Chief Strategy Officer, said: “This is great news for our ambitious plans to construct the UK’s premier battery cell Gigaplant in Northumberland.
“While the overwhelming majority of investment for the project will come from private sources, the ATF’s grant funding is very important in proving that the UK Government is confident that we will deliver on our plans, and this will help to generate further private investment. It’s a clear indicator of the Government’s policy towards electrification of society in the Race to Zero.
“We want to thank the UK Government for its support for this critical investment which will create over 3,000 direct and 5,000 indirect jobs, and that will also strengthen the UK’s technological base and play a key role in helping the country reach its net zero target by 2050. The Britishvolt Gigaplant will create both the jobs and the industry of the future.”
Britishvolt’s Gigaplant is regarded as being strategically important for the UK automotive industry for it to maintain its competitive advantage as it accelerates towards an increasingly electric future. It also supports the UK Government’s Ten Point Green Recovery Plan and is an important step to the UK becoming a net zero economy by 2050.
Kwasi Kwarteng, Business Secretary, said: “I’m delighted to confirm we have now provided Britishvolt with a final grant offer through the Automotive Transformation Fund. The Blyth gigafactory will turbocharge our plans to embed a globally competitive electric vehicle supply chain in the UK and it is fantastic to see how the project is progressing.
“The vast site will ensure Britain can fully capture the benefits of the booming global electric vehicle market. The well-paid jobs and growth it will generate for the North East of England will be transformational and are exactly the reason we are investing to make the UK the best place in the world for automotive manufacturing.”