Battery firm Britishvolt is hoping to raise funds that maintain its plans to build a gigafactory in Northumberland that would create 3,000 jobs.
Reports on Monday suggested that the company was on the verge of going into administration. But now it is understood that the company is hoping to securing finance to maintain its future, though it is not clear either the source of the funding or how long it will maintain the firm.
Britishvolt has been developing a £3.8bn gigafactory near Blyth, Northumberland, which it had hoped would employ up to 3,000 staff. But it been in emergency fundraising talks in recent weeks and has not received Government funding promised at the start of the year.
