Green light for Northumberland EV Gigafactory
A giant electric vehicle battery factory, or ‘gigafactory’, has been given the go-ahead and around £100mn in Government funding.
UK firm Britishvolt announced the plans for the factory in Cambois, Northumberland, and said it could create up to 3,000 well-paid, technical jobs in the region. The EV battery manufacturer also announced further funding from private investors totalling around £1.7bn.
Speaking to the BBC’s Today programme, Business Secretary Kwasi Kwarteng said the "huge investment" would give people the "opportunity to have highly-paid, well-paid, high-skilled jobs".
“We're bringing industry, we're bringing manufacturing to an area that has been under invested in frankly and we're bringing thousands of jobs,” he said.
“Well paid jobs, which represent a huge economic opportunity for people in this area. This is exactly what levelling up looks like.”
Britishvolt executive chairman Peter Rolton told the BBC the first batteries would be ready for market in 2024.
He said: “This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution.”