Britishvolt, which owed approximately £160 million to unsecured creditors, is expected to provide only a minimal dividend from its insolvent estate.
Britishvolt, which owed approximately £160 million to unsecured creditors, is expected to provide only a minimal dividend from its insolvent estate.
Germany and Italy have caused disruption to a proposed European Union to ban on new petrol and diesel cars as they demand exceptions to protect their influential automobile industries.
Recharge Industries, an Australian battery manufacturer, has finalized its acquisition of the collapsed Britishvolt start-up. The company intends to fulfil the failed firm’s proposal to construct a £3.8bn gigafactory in
According to the AA, as petrol and diesel prices drop and the cost of electricity surges, the number of motorists interested in purchasing electric cars has significantly decreased.
Teesside’s future lithium hydroxide plant could be a source of supply for Britishvolt, which is looking to save its £3.8bn North East gigafactory.
After Recharge purchases assets of a collapsed company, the UK gigafactory will be a reality.
Norwegian suitors show interest in a failed “gigafactory” company that is being sold.
A start-up based in Australia has offered to rescue Britishvolt, the failing electric battery manufacturer. Britishvolt went bankrupt this month.
Britishvolt was the maker of electric vehicle batteries. They have appointed administrators and made around 300 employees redundant.
Britishvolt, the UK’s electric car battery manufacturer, was championed in part by Boris Johnson. It is expected to announce its administration.
Electric cars are approximately £10,000 more expensive than petrol equivalents