Car battery maker Britishvolt handed funding lifeline

By Dave Rogers2022-11-02T15:53:00

Three-year-old company still faces battle for survival

Car battery manufacturer Britishvolt has said it has received short-term funding to keep going – although staff have been asked to take pay cuts this month because of the cashflow issues.

The company behind ISG’s £300m gigafactory in Northumberland was thought to be on the verge of collapse earlier this week amid claims that accountant EY had been lined up to carry out the administration with the firm reportedly set to run out of money this month.

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