For its envisioned gigafactory in Northumberland, Britishvolt has received a final grant offer from the government via the Automotive Transformation Fund.
The factory will significantly contribute to the UK automotive industry’s transition to a zero emissions future and increased production of electric vehicles by producing enough batteries for over 300,000 electric vehicles each year.
The project is expected to generate 3,000 highly skilled direct jobs and an additional 5,000 indirect jobs throughout the entire supply chain.
Kwasi Kwarteng, the business secretary, said:
I’m happy to report that we have now made a final grant offer to Britishvolt via the Automotive Transformation Fund.
The Blyth gigafactory will accelerate our efforts to establish a UK-based supply chain for competitive electric vehicles, and it is wonderful to see how the project is progressing.
The sizeable site will guarantee that Britain can fully benefit from the booming international electric vehicle market.
We are investing to make the UK the best place in the world for automotive manufacturing because of the well-paying jobs and growth it will create for the North East of England.
In January 2022, the government initially declared support for the project.
With an investment of £850 million, the Automotive Transformation Fund will electrify the UK’s automotive supply chain and maintain our country’s competitiveness on the world market.