The start-up planning one of the UK’s first gigafactories to produce electric car batteries is in advanced talks to secure at least £200m of government funding for its proposed facility in north-east England, according to three people with knowledge of the talks.
Britishvolt, which is backed by commodities giant Glencore, has been trying to tap the government for support for more than a year as it aims to become a large-scale battery producer with its £2.6bn gigafactory in Blyth, Northumberland.
The government has put securing car battery investment at the heart of efforts to sustain the UK’s auto industry, as ministers pursue ambitious plans to cut carbon emissions. The government’s plan to ban the sale of new petrol and diesel cars by 2030 and hybrids by 2035 will require vehicle plants to shift to producing electric models.