- The UK government offers funding through the Automotive Transformation Fund.
- The gigafactory will produce batteries for over 300,000 electric vehicles annually.
- The project will create 3,000 direct and 5,000 indirect jobs.
- £350 million was recently announced for the Automotive Transformation Fund as part of the Net Zero Strategy.
Government Funding and Support
Britishvolt has received an in principle offer of government funding through the Automotive Transformation Fund (ATF) for its planned gigafactory in Blyth, Northumberland. This support aims to unlock further private investment, creating a significant boost for the local economy and the UK's automotive industry.
Production Capacity and Job Creation
Once completed, the gigafactory will produce enough batteries for over 300,000 electric vehicles annually. The project is expected to create 3,000 direct highly-skilled jobs and an additional 5,000 indirect jobs within the wider supply chain, significantly contributing to the local and national economy.
Strategic Importance
The gigafactory is a key component in the UK's strategy to transition to a zero-emissions future and increase electric vehicle production. The government's investment is part of a broader effort to ensure the UK remains a competitive location for auto manufacturing in the global market.
Additional Investments
As part of the Net Zero Strategy, the government recently announced £350 million in funding for the Automotive Transformation Fund, adding to the £500 million already allocated as part of the 10 Point Plan. This funding aims to develop the supply chain for cleaner vehicles and support the UK's goal to end the sale of new petrol and diesel cars by 2030.
