Wednesday, August 13, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
US firm to make bid for bankrupt UK car battery firm, Auto News, ET Auto

US firm to make bid for bankrupt UK car battery firm, Auto News, ET Auto

by admin
January 28, 2023
in Technology
0 0
0
Share on FacebookShare on Twitter


 Financial firm EY said it would oversee Britishvolt's administration, confirming that a formal application for the process had been submitted.
Monetary agency EY mentioned it will oversee Britishvolt’s administration, confirming {that a} formal software for the method had been submitted.

US agency Recharge Industries on Wednesday mentioned it was making a money bid for Britishvolt, a UK agency behind a deliberate gigafactory for electrical automobile batteries that declared chapter final week.

The beginning-up, championed by former prime minister Boris Johnson to assist drive a greener financial system, had been growing the multi-billion-pound venture in Blyth, northeast England.

Nevertheless, the corporate, as soon as valued at $1 billion, final week fell into administration, a course of whereby a troubled firm brings in exterior experience to attempt to salvage elements of the enterprise.

Recharge Industries mentioned the bid would come with buying your entire web site and services, “and presents a imaginative and prescient to retain present Britishvolt workers.”

“We’ve got made a non-binding money supply,” mentioned David Collard, CEO of Scale Facilitation, the funding agency that owns Recharge Industries.

“There will likely be roles for remaining workers inside Britishvolt and in addition supporting our Australian facility within the interim remotely from the UK,” he added.

Monetary agency EY mentioned it will oversee Britishvolt’s administration, confirming {that a} formal software for the method had been submitted.

The “majority” of its 300 workers have been made redundant “with speedy impact”, it added.

Britishvolt had been in emergency fundraising talks because the finish of final 12 months, regardless of the promise of presidency monetary assist and within the wake of funding by metals big Glencore and British luxurious automotive agency Aston Martin.

Britishvolt had hoped to supply 300,000 electrical automobile batteries a 12 months at Blyth.

Additionally Learn:

Digitised mechanical and environmental efficiency of recycled brief glass-fibre bolstered polypropylene compounds helps the transition to extra sustainable automobiles, the corporate mentioned.





Source link

Tags: AutoBankruptbatterybidCarfirmNews

Related Posts

Cabinet approves four semiconductor units in Odisha, Andhra Pradesh and Punjab, ETAuto
Technology

Cabinet approves four semiconductor units in Odisha, Andhra Pradesh and Punjab, ETAuto

August 13, 2025
Qualcomm Boosts Automotive Module Production in India Ahead of 2026 Rollout, ETAuto
Technology

Qualcomm Boosts Automotive Module Production in India Ahead of 2026 Rollout, ETAuto

August 12, 2025
Tesla Secures Robotaxi License in Texas Amid Legal Troubles and Dojo Shutdown, ETAuto
Technology

Tesla Secures Robotaxi License in Texas Amid Legal Troubles and Dojo Shutdown, ETAuto

August 12, 2025
Honda Plans to Expand Flex-Fuel Two-Wheelers in India for Carbon Neutrality, ETAuto
Technology

Honda Plans to Expand Flex-Fuel Two-Wheelers in India for Carbon Neutrality, ETAuto

August 11, 2025
Google Maps to Identify Black Spots for Commuters’ Safety in Delhi, ETAuto
Technology

Google Maps to Identify Black Spots for Commuters’ Safety in Delhi, ETAuto

August 11, 2025
Tesla to streamline AI chip research, ETAuto
Technology

Tesla to streamline AI chip research, ETAuto

August 10, 2025
Load More
Next Post
Canoo electric van | Latest electric car battery technology | Latest electric cars 2021

Canoo electric van | Latest electric car battery technology | Latest electric cars 2021

Big Kia EV9 SUV could get GT treatment

Big Kia EV9 SUV could get GT treatment

Categories

  • Auto News (3,448)
  • Automative Reviews (1,959)
  • Car Brands (2,085)
  • Insurance (3,466)
  • Market (1,618)
  • New Cars (2,192)
  • Technology (2,072)
  • Videos (2,162)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • Lynk & Co 01 REVIEW – new car brand with a cheaper Volvo XC40 !
  • Used Car Prices Continue to Climb
  • Triple-I Blog | 2025 Cat Losses to DateAre 2nd-Costliest Since Records Have Been Kept
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In