UK battery start-up collapses into administration

Hillhater

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Britishvolt: UK EV battery start-up collapses into administration
https://www.bbc.com/news/business-64303149
£3.8 bn ??…. It would be interesting to see their business proposal and how they expected to see a viable ROI ?
..I have been involved in several large manufacturing plant startups, and a £500 m proJect budget could build and equip several large manufacturing plants.
 
UPDATE..
[/u]
An Australian firm has been named as the preferred bidder for Britishvolt, the UK battery start-up which collapsed last month.
Recharge Industries, which is owned by New York fund Scale Facilitation Partners, has entered an agreement to buy Britishvolt's business and assets.
Britishvolt was put into administration after running out of money.
It had planned to build a giant factory to make electric car batteries near Blyth, Northumberland…..
…..
Recharge Industries is building a facility in Australia to produce batteries for electric vehicles.
https://www.bbc.co.uk/news/business-64535346.amp
 
Very odd. I'm unsure about how the Swedish one will cope but I guess they will manage somehow. Other countries has their own startups as well. I saw a company almost got the feeling it was Chinese starting up in Norway so I cross my fingers it goes their way as there're a lot of these factories needed in the future like 10 times what there are right now (guess, not facts) to fill future demand.

So my hopes for them to manage but the money can't be borrowed cheaply anymore. Makes only the strongest and smartest to stay / survive we should hope.
 
There has been battery manufacturers promoting their start up in Australia for 10+ years.
So far they build packs from imported cells and have a small pilot plant for cells ……and a large plot of land..but no commercial locally made cells.
 
There has been battery manufacturers promoting their start up in Australia for 10+ years.
So far they build packs from imported cells and have a small pilot plant for cells ……and a large plot of land..but no commercial locally made cells.
Seems wasteful. What do you think is holding them back?
 
Seems wasteful. What do you think is holding them back?
Technology ?…cell tech/chemistry is changing rapidly, so what ever cell they thought they would produce a few years ago is probably now outdated and new knowledge, equipment, processes, etc would be needed.
unless you are on the leading edge of cell technology like Tesla, Sony, Samsung, CALB, etc…..you are in danger of being left with a worthless production facility.
So it is safer to buy wholesale cells and assemble them into packs for retail sale.
OR….maybe they just cannot raise enough capital/ grants etc to move forward ?
 
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