Glencore and Jaguar owner join battle for collapsed Britishvolt

A slew of suitors are lining up to put up bids for Britishvolt’s collapsed Northumberland factory site.

Mining giant Glencore and Jaguar Land Rover owner Tata Motors are among more than a dozen companies believed to be interested in the site, the Financial Times reported.

Britishvolt plunged into administration this week in a major blow to Britain’s hopes of creating an electric car powerhouse. It has put some 230 jobs at risk.

After months of uncertainty, the start-up battery maker failed to get a long-term solution from investors through sale or rescue financing.

Labor said the collapse was a ‘disaster’ for the UK car industry, while former Aston Martin boss Andy Palmer said it was ‘an unmitigated disaster for the UK car industry’.

EY auditors will oversee an administrative process whereby 206 of Britishvolt’s 232-strong workforce will be laid off with immediate effect. The other 26 are being held to assist in the sale of the company and its assets.

The manufacturer of lithium-ion batteries, a type of rechargeable battery used in electric vehicles, was founded in 2019 and agreed to build a £3.8 billion factory at Blyth in Northumberland.

The site is said to have created 3,000 jobs and secured £100 million in government funding.

Despite being empty, the site was seen as an ideal location for a massive battery factory thanks to its deep-water port and access to clean energy and rail links.

But construction delays at Blyth meant that this cash injection never materialized, with the government refusing to advance £30 million of promised aid last year, leaving Britishvolt on the brink of collapse.

A source close to Glencore, one of Britishvolt’s investors, said it was “clearly in favor” of developing battery factories, but denied being interested.