Britishvolt seeks $3.6bn funding for UK’s first gigafactory

Britishvolt seeks $3.6bn funding for UK’s first gigafactory

Britishvolt is considering a public listing as it seeks funding for the UK's first battery gigafactory.

The deal to finance the £2.6 billion ($3.6 billion) project could be announced as soon as the end of this quarter, the startup venture said on Thursday.

The UK has banned sales of new petrol and diesel cars by 2030, and needs a factory producing batteries for electric vehicles to avoid falling behind in the global race to lead manufacturing for the energy transition.



Global electric car sales rose by a record 38 per cent in 2020, taking the total number on the world's roads