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the electric car battery maker britishvolt has gone into administration after hopes of a last minute bid for the company faded. the collapse raises questions about uk hopes of building a home grown battery industry. the company, which had plans to build a gigafactory to make the uk start up had been expecting to build a new 5.8 billion or $4.7 billion factory in northumberland, as part of a long term vision to boost uk manufacturing. well, this promotional video shows what the factory with a capability to make 300,000 electric batteries a year would have looked like. the plan was to create 3,000 jobs at the plant. now, administrators have taken over the business and most of britishvolt s 300 staff are being made redundant. here s our business editor simonjack. so what went wrong? britishvolt was a start up company with no track record. their battery technology was only at the prototype stage. although there are expressions of interest from lotus and aston martin ....
To build a new 3.8 billion pound or 4.7 billion dollar factory in northumberland, northern england, as part of a long term vision to boost uk manufacturing. well this promotional video shows what the factory with a capability to make 300,000 electric batteries a year would have looked like. the plan was to create 3000 jobs at the plant. now administrators have taken over the business and most of britishvolt s 300 staff are being made redundant. here s our business editor simonjack: so what went wrong? britishvolt was a start up company with no track record. their battery technology was only at the prototype stage. although there are expressions of interest from lotus and aston martin, they had no real customers and therefore no revenue. and yet they were burning through their backers cash fast, nearly going bust last november and finally collapsing today. this is a setback for the uk car industry. currently, the uk only has one working battery plant, a chinese owned one next t ....
The electric car battery maker britishvolt has gone into administration after hopes of a last minute bid for the company faded. the collapse raises questions about uk hopes of building a home grown battery industry. the company, which had plans to build a gigafactory to make the uk start up had been expecting to build a new 5.8 billion or $4.7 billion factory in northumberland, as part of a long term vision to boost uk manufacturing. well, this promotional video shows what the factory with a capability to make 300,000 electric batteries a year would have looked like. the plan was to create 3,000 jobs at the plant. now, administrators have taken over the business and most of britishvolt s 300 staff are being made redundant. here s our business editor simonjack. ....