UK battery start-up collapses into administration

[Hillhater]

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.

 

[Hillhater]

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

 

[m3vuv]

all these startups or certainly a good few of them seem to line there pockets using other folks money then fold!

 

[leffex]

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.

 

[Hillhater]

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.

The BIG POWER plan | Energy Renaissance

Australia possesses abundant raw materials and leading expertise in mining, mineral processing, and advanced manufacturing, uniquely positioned to support a world-class battery industry. Yet Australia must catch up to other countries to establish a local battery supply chain.

energyrenaissance.com

 

[99t4]

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?