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Founder and chief executive of battery group Britishvolt stepping down weeks after report suggests company is on ‘life support’
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The founder and chief executive of battery group Britishvolt is stepping down weeks after a report suggested the company was on ‘life support’.
Orral Nadjari, who set up the company in 2019, will hand over to deputy chief executive and global operations boss Graham Hoare.
Shake-up: Britishvolt is aiming to build a £3.8billion gigafactory that will produce enough cells for more than 300,000 electric vehicles
The management shake-up follows reports the company is trying to slash costs and that work on its flagship factory would be ‘severely limited’ until February.
Britishvolt is aiming to build a £3.8billion gigafactory that will produce enough cells for more than 300,000 electric vehicles.
In January Britishvolt clinched £100million in Government funding and another £1.7billion from major companies Abrdn and Tritax to set up its Northumberland plant.
It has struck arrangements with groups including Lotus and Aston Martin to design and tailor-make batteries for their electric cars.