Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Britishvolt factory site may go on sale again

by February 23, 2024
February 23, 2024
Britishvolt factory site may go on sale again

The collapse of the Britishvolt battery factory project has left administrators still seeking payment from the Australian buyer, Recharge Industries, for the site in Cambois, Northumberland.

Despite the agreement made a year ago, Recharge Industries remains in default, prompting administrators to explore alternative deals for the site.

Northumberland county council has earmarked £15 million to repurchase the land if necessary, indicating a potential fallback plan should negotiations with other buyers falter.

Britishvolt’s ambitious promises of creating 8,000 jobs and establishing a gigafactory for electric car batteries had garnered significant attention. However, the project faced setbacks and ultimately collapsed early last year, despite the prospect of government grants totaling £100 million contingent on meeting specific milestones.

Following Britishvolt’s administration, administrators struck a deal with Recharge Industries in February of the previous year, but subsequent missed payments have complicated the situation.

Negotiations with other interested parties are ongoing, although administrators caution that commercial sensitivities limit their ability to provide detailed commentary.

The possibility of the council repurchasing the land raises concerns about the potential discrepancy in cost, with opposition leaders warning against acquiring the site at a higher price than its initial sale.

Read more:
Britishvolt factory site may go on sale again

0
FacebookTwitterGoogle +Pinterest
previous post
Companies slash pay incentives for would-be recruits
next post
Tony’s Chocolonely Faces Legal Battle with Milka Over Copycat Campaign

You may also like

IRIS Audio Technologies raises $7m to drive growth...

April 27, 2023

Toys ‘R’ Us returns to high street with...

June 1, 2023

Tangle Teezer, once rejected on Dragons’ Den, sold...

December 13, 2024

Christmas rail travel at risk as staff shortages...

December 11, 2024

UK’s entrepreneurial ambitions stronger than ever as small...

June 9, 2023

Finance concerns have harmed the mental health of...

May 15, 2023

A Letter from a venture capital firm to...

September 8, 2022

Labour to launch state-owned Great British Energy with...

July 18, 2024

How to grow your online business with affordable...

August 7, 2023

Flexi time used by staff to skive off,...

September 5, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • WATCH: Trump says he is hopeful Hillary Clinton will be investigated for election fraud

      August 1, 2025
    • Trump moves nuclear submarines weeks after praising sub’s power in Iran strikes

      August 1, 2025
    • Recess on ice as Republicans hunker down for high-stakes nominee blitz

      August 1, 2025
    • Iran says it has ‘plenty of scientists’ left to restart uranium enrichment, despite US, Israeli strikes

      August 1, 2025
    • No, Tariffs Are Not Similar to Consumption Taxes Like a VAT

      August 1, 2025
    • Trump repositions 2 nuclear submarines after ‘highly provocative’ Russian comments

      August 1, 2025

    Categories

    • Business (8,651)
    • Investing (2,168)
    • Politics (16,281)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved