Britishvolt, the would-be electric vehicle (EV) battery maker that recently went into administration, always faced an uphill struggle. The start-up had no track record developing technology and never confirmed how it would raise the £3.8 billion needed to start mass producing batteries, which reduces the average cost per battery.
The proposed facility near Blyth, a coastal town in north-east England, was slated to contribute around a quarter of what the UK automotive industry needs, or enough for 330,000 battery packs a year. But with no major auto firms as customers, its business model always looked vulnerable.
