North East electric vehicle battery factory receives government backing

Once complete, the factory will produce enough batteries for over 300,000 electric vehicles each year.

The government’s support for the gigafactory will help to unlock a significant amount of further support from private investors. Alongside private sector investment, the project is set to create 3,000 direct skilled jobs and another 5,000 indirect jobs in the wider supply chain.

Kwasi Kwarteng Business Secretary, said: “Today’s news is a major boost for Britain and a resounding vote of confidence in the North East economy.

“Britishvolt’s planned gigafactory will not only enable the UK to fully capture the benefits of a booming electric vehicle market, but will bring thousands of highly-skilled, well-paid jobs to the North East.

“In this global race between countries to secure vital battery production, this government is proud to make the investment necessary to ensure UK’s retains its place as one of the best locations in the world for auto manufacturing.”

Minister for Investment Lord Grimstone said: “Our support for Britishvolt’s gigafactory is not only set to bring new jobs to the people of Northumberland, but by unlocking huge amounts of additional investment, we are helping to turbocharge the local economy.

“All of which will not only transform Blyth, but also help us build the batteries that will power our electric vehicles for a cleaner, greener future.”

The government is investing millions to develop the supply chain for cleaner vehicles in the UK, while working with the auto industry to ensure it remains competitive. As part of the Net Zero Strategy, we recently announced £350m of funding for the Automotive Transformation Fund.

This is additional to the £500m already announced as part of the 10 Point Plan. Ending the sale of new petrol and diesel cars in the UK by 2030 will put the UK on course to be the fastest G7 country to decarbonise cars and vans.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.