The UK government has presented Britishvolt, a leading battery technology development company, with a final grant offer through the Automotive Transformation Fund for its planned Gigaplant in Northumberland.
The government has provided Britishvolt with a final grant offer through the Automotive Transformation Fund for its planned Gigaplant in Northumberland.
The factory is anticipated to create enough batteries for over 300,000 electric vehicles each year, substantially supporting the UK automotive industry’s shift to a zero emissions future, as well as facilitating the expanded construction of electric vehicles.
This groundbreaking project is forecast to deliver 3,000 direct highly-skilled jobs and another 5,000 indirect jobs in the wider supply chain.
The Automotive Transformation Fund
Business Secretary Kwasi Kwarteng commented: “I am 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.”
The Automotive Transformation Fund is an £850m programme to electrify Britain’s automotive supply chain and safeguard the nation’s competitiveness in the global market.
The government originally announced backing for the project in January 2022.
Funding the race to zero
Responding to the funding announcement, Britishvolt CSO Isobel Sheldon OBE commented: “This is great news for our 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.”
About Britishvolt
Britishvolt’s mission is to accelerate the electrification of society; the company is committed to delivering sustainable, low-carbon batteries on the roadmap to decarbonisation.
The race to zero is an imperative goal for our society, and batteries are core to a successful energy transition. The Britishvolt ambition is to create some of the planet’s most responsibly manufactured battery cells, primarily to power electric vehicles.
