Britishvolt has secured a lifeline deal that will give the battery start-up enough money to last until early December, pulling the business back from the brink of bankruptcy.
The group has raised enough money from an unnamed investor for five further weeks of operations, chair Peter Rolton told the Financial Times.
Staff have agreed to take a “significant” pay reduction during November in order to make the money last, while company executives are working with no pay for the month, he said.
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