Britishvolt secures £100m from the Automotive Transformation Fund to build a gigafactory in Northumberland.
The grant funding from the Advanced Propulsion Centre will support the development of the UK's first major battery cell manufacturing facility.
Britishvolt develops next-generation lithium-ion battery cells and low-carbon energy storage solutions. The company is constructing a major gigafactory in Northumberland to supply the electric vehicle market.
Britishvolt has secured £100m in grant funding from the Advanced Propulsion Centre through the Automotive Transformation Fund. The capital will support the construction of the company advanced technology battery cell gigaplant in Northumberland, marking a major milestone for domestic electric vehicle manufacturing.
The project represents one of the largest industrial investments in the North East of England in decades. At full capacity, the facility aims to produce battery cells for over 300,000 vehicles annually while creating thousands of direct and indirect jobs.
The backing reinforces public sector support for the domestic automotive supply chain as the country transitions towards net-zero targets. Private capital is expected to provide the remainder of the funding required for the gigafactory buildout.
From the founder
"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"
Isobel Sheldon
Chief Strategy Officer at Britishvolt
Investor perspective
"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."
Kwasi Kwarteng
Business Secretary, Advanced Propulsion Centre
Use of funds
- 01Build out infrastructure
Investors
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About the company
Britishvolt
Britishvolt develops sustainable lithium-ion battery cells for electric vehicles.