🔋 The start-up, Britishvolt, is on the brink of collapse just months after Boris Johnson hailed its plans for a huge factory to make car batteries for electric vehicles in the North East as a significant “levelling up” and post-Brexit opportunity
The start-up, Britishvolt, is on the brink of collapse just months after Boris Johnson hailed itsas a significant “levelling up” and post-Brexit opportunity.
A spokesman for Britishvolt said: “We are aware of market speculation. We are actively working on several potential scenarios that offer the required stability. We have no further comment at this time.” With the sale of petrol and diesel car and vans set to end in the UK in 2030, a rapid growth in the production of electric vehicles and their components is expected.
The company has faced uncertainty in recent months, with its co-founder, Orral Nadjari, leaving in July. Labour politicians have described the company’s potential collapse as “disastrous” and blamed the Conservative government.: “It’s just so sad. This area hasn’t had a major employer since the mines closed in 1984.The shadow Business Secretary, Jonathan Reynolds, said: “It is a sight that has become all too familiar – businesses going under, jobs being lost and investment in the industries of the future going abroad rather than the UK.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Labour is conservative on black representation'Ex-Chair of the Labour Party Black Sections, Marc Wadsworth, says little has changed in the party over decades
Read more »
Rishi slashes Labour lead in just a week as his 3 priorities are revealedRISHI Sunak has today slashed Labour’s poll lead in a massive bounce back after just one week in the top job. Labour is now leading by 16 points, an 11 point drop from last week’s 27-po…
Read more »
Glasgow Labour say warm banks roll out has been 'abysmal'Glasgow’s roll out of ‘welcome places’ to help residents struggling with soaring energy costs has been “abysmal”, according to the…
Read more »
Labour puts pressure on Rishi Sunak to 'come clean over Suella Braverman reappointment'The new PM has so far resisted demands to launch an inquiry after she shared a sensitive document with a Tory backbencher from a personal email without permission.
Read more »
Middlesbrough's defeat to Preston North End 'stung' boss Michael CarrickMiddlesbrough head coach Michael Carrick admitted that losing late on against Preston North End stung, as the home side snatched a 2-1 win.
Read more »