The Britishvolt electric-vehicle battery company received a financial boost from the government today. The Automotive Transformation Fund has issued an in principle offer of investment to Trixtax and abrdn, enabling a long-term relationship that will yield £1.7 billion in private funding. Investing in the UK's successful transition to a zero-carbon economy is a monumental step forward.
We are pleased to report that Britishvolt's groundbreaking plans for the company's first full-scale Gigaplant are moving forward and producing [c]3,000 high-value employment in the Northeast.
Additional [c]5,000+ indirect jobs in the UK supply chain will be created as a result of the Northumberland site's construction. The Gigaplant will make enough cells each year to make enough battery packs for more than 300,000 electric cars, which is about 25% of the cars that are made in the UK now.

It firmly backs Prime Minister David Cameron's 10-point strategy for a green industrial revolution and his desire to raise the UK to the next economic and social strata..

A growing demand for electric cars necessitates the use of home batteries, which are becoming more important. In 2021, British customers purchased more electric automobiles than in the previous five years combined.


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