Hundreds have lost their jobs after British electric car battery company Britishvolt fell into administration.
The majority of Britishvolt’s approximate 300 staff have been made redundant, administrators said, after the group made an application for administration to the courts on Tuesday.
It followed talks with investors over a possible sale to keep the firm afloat.
Britishvolt has been on the brink of collapse since £100m of promised government funding to build a planned battery gigafactory was delayed due to key targets for the investment being missed.
The move will have implications for Britain’s vehicle manufacturers, which experts say need battery factories to stop much of the country’s car production from shifting to mainland Europe.
Downing Street issued a statement soon after the news was announced saying it was aware of the speculation but would not comment directly on the firm, saying “we will await further updates from that specific company”.… Read more