Financial advisors to Britishvolt have been given weeks to find a buyer for the Northumberland gigafactory, it has been reported.
Investment bank Lazard has reportedly been given five weeks to secure new owners for the Blyth electric battery plant, where there are plans to create 3,000 jobs as well as a further 5,000 in its supply chain. The Times claims the bank has been instructed to bring in short-term US investment ahead of a longer term deal, which could be with automotive companies, or with Asian battery businesses, with Jaguar Land Rover owners Tata Group of India said to be among those in the frame.
The reports come days after Business Secretary Grant Shapps insisted that Government money pledged to the scheme is still on the table, but that Britishvolt can’t access it until milestones are agreed.
