Britishvolt plant receives tens of millions in funding
IMAGE SOURCE – BRITISHVOLT
Britishvolt announced plans for the Gigafactory in Cambois two years ago, saying it would create 3,000 jobs. The government has been said to inject around £100m through its Automotive Transformation Fund.
Economics Minister Kwasi Kwarteng described the support as “reindustrialization”. He expressed that the “big investment” would give people the “opportunity to have high-paying, well-paid, high-skilled jobs.”
“We’re bringing industry, we’re bringing manufacturing into an area that’s frankly underinvested, and we’re bringing thousands of jobs,” he said.
“Well paying jobs that represent a huge economic opportunity for people in this field. That’s what leveling up looks like.” He added.
The government wants the UK to become a major force in the fast-growing electric car market. However, if she wants manufacturers to build her here, having gigafactories in the UK as well is critical to success.
Not only are battery packs large and heavy, which makes local production desirable, they also account for a large part of the value of an electric car.
As part of the Brexit deal, cars made in the UK and sold in Europe will soon have to contain a significant amount of British or European parts. It is well known that if batteries are not manufactured here, chances are car manufacturers will not be based here in the UK either.
Experts say Britishvolt’s plant must be the first of many. The future of the entire British automotive industry depends on it.
Sales of new petrol and diesel cars in the UK will be banned by 2030 as manufacturers shift to making electric vehicles and require huge battery production.
The Government has committed over £800m to attract battery investment to the UK. Mr Kwarteng said Britishvolt would help put Britain at the forefront “in this global race between countries to secure vital battery production”.
At full capacity, which is expected to be reached by the end of the decade, the factory will produce enough battery cells for more than 300,000 electric vehicle battery packs per year.
The Gigafactory is being built on the site of the former Blyth Power Station. In addition to the 3,000 employees at the site, Britishvolt estimates that at least another 5,000 jobs will be created in the supply chain.
Britishvolt chief executive Peter Rolton said he would like any new jobs at the plant to go to people who live in the area, noting that the company is building a training center in nearby Ashington.
“Our policy will be not to say no to anyone,” he said.
Rolton said the first operational batteries would roll off the assembly line in 2024. “This announcement is an important step in putting the UK at the forefront of the global energy transition and unlocking huge private sector investment that will develop the technology and skills needed to enable the UK to play its part in the next industrial revolution.”
“This is a truly historic day and marks the start of a really exciting step towards a low-carbon future,” said Rolton.
