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Inquiry launched into UK battery production after Britishvolt collapse

Inquiry launched into UK battery production after Britishvolt collapse
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United kingdomDarren jonesJamie driscollNorthumberland county councilIndustrial strategy committeeBlyth valleyCounty council

Britishvolt: Battery gigafactory hopeful enters administration

Failure of planned £3.8bn EV battery gigafactory in Northumberland is a 'big bump in the road' for British green industrial revolution

United kingdomGrant shappsColin walkerJonathan reynoldsPeter roltonHargreaves landsdownDan hurdDepartment for businessNorth eastBusiness secretary grant shappsShadow secretaryIndustrial strategyElectric vehicles

Transcripts for BBCNEWS Breakfast 20240604 06:44:00

the glazerfamily, said they would consider selling it. the 70 year old made an unsuccessful £4.25 billion offer to buy chelsea last year, but has previously confirmed his support of the manchester based club, having spent his childhood in the city. united play crystal palace tonight, as they look to move up to second we now he has got lots of other investments in sporting ventures but that really would be significant were he to buy manchester united. indeed. thank you very much indeed. we have a story of another investment. yes, we do. it was hailed as a great example of what the government called levelling up a giant factory making batteries for electric cars, and bringing 3,000 jobs to north east england. today that plan lies in tatters after the start up firm, britishvolt, went into administration. alasdair gill has the story. it was the multi billion pound battery factory that was supposed to power up the economy of blythe valley and the north east. but britishvolt, the company

In the cityManchester unitedManchester based clubCrystal palace4 25 billion25 billionSporting venturesBritish governmentLevelling upNorth east englandGiant factory making batteriesAlasdair gillNorth eastGigafactory plansBlythe valley

Transcripts for BBCNEWS Breakfast 20240604 06:45:00

of this enormous site has frozen up. this was always a very difficult thing for britishvolt to do. it didn t have a proven track record on technology. it wasn t clear where the £4 billion of investment would come from to finance the factory. and it had no big customers. this project had been championed by the government. the then business secretary, kwasi kwarteng, was here a year ago, promising government investment of £100 million. that money was never forthcoming, the prime minister hinting why in november. it s important that private companies, private shareholders, private businesses, are also investing alongside the taxpayer, because we want to make sure that those projects work, that they re good value for money. the reality is the government. haven t supported this project. they haven t given one pence - to this major project, a complete l lack of industrial strategy from l the government, and that s simply not good enough for the north east. construction ground to a halt her

It wasn t clearIt didn tTrack record4 billionBritish governmentPrime ministerGovernment investmentBusiness secretaryKwasi kwarteng100 million00 millionThey haven tConstruction ground

Transcripts for BBCNEWS Breakfast 20240604 06:50:00

three, four billion to build something from scratch, that is not an industrial strategy. this is not levelling up. if an industrial strategy. this is not levelling up- an industrial strategy. this is not levellini-u. ., ., levelling up. if the golf had poured in tens of millions levelling up. if the golf had poured in tens of millions of levelling up. if the golf had poured in tens of millions of pounds - levelling up. if the golf had poured in tens of millions of pounds and i in tens of millions of pounds and this has happened, they would be criticism of waste and making a big mistake? the government. actually, i spoke to britishvolt on friday myself and local mps, you had ian lavery on, we were all involved with lobbying government because there was an investor lined up who, if the government add advanced 30 million, that investor would have underwritten that and have the project failed they would have repaid the british government. it would have levered in another couple of

Levelling upAn industrial strategyTens of millionsFour billionBritish governmentIan lavery30 millionIncome tax