Britishvolt powers ahead with plans to build UK Gigafactory
Britishvolt is powering ahead with its plans for its first full-scale electric-vehicle Gigaplant in Northumberland and announces that the project is receiving Government support.
At the same time Britishvolt announces that Tritax and abrdn are becoming its partner to fund the build of the project, shell and core, as well as to develop the associated supplier park. Tritax is an investor in the UK and a European logistics real estate and is joining in the partnership with abrdn’s global real assets and investment capabilities.
The battery manufacturer has received an in principle offer of government funding though the Automotive Transformation Fund (ATF), which has enabled the long-term partnership Tritax and abrdn which will delived GBP 1.7 billion in private funding.
"This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution," says Peter Rolton, Britishvolt Executive Chairman, in the press release.
Peter Rolton continues to say the project will bring around 3,000 direct highly-skilled jobs and another 5,000+ indirect wider supply chain roles into the region on Northumberland
"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," says Prime Minister, Boris Johnson
The project will be built in phases, in order to keep up with technology advancements, but once completed it is said that it will have a total capacity of over 30GWh – by the end of the decade.