FLAT BATTERY?

[grober]

Britishvolt: UK battery start-up collapses into administration

THE ONLY UK EV BATTERY PLANT LEFT [ FOR THE NISSAN LEAF?] IS OWNED BY THE CHINESE

 

[grober]

ALAS---NO CUSTOMERS

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www.britishvolt.com

https://www.eenewseurope.com/en/interactive-map-shows-battery-gigafactory-development/V

 

[Bellow]

''An existing shareholder added: "It's madness, I have been offering a variety of possible solutions. Falls on deaf ears. It appears, to me, that management wants the company to go into administration. A real shame."

Hmmm....

 

[Dryce]

''An existing shareholder added: "It's madness, I have been offering a variety of possible solutions. Falls on deaf ears. It appears, to me, that management wants the company to go into administration. A real shame."

Hmmm....

From the article:

The founders of Britishvolt were trying to create a £4bn facility, from scratch, without the backing of a major manufacturer.

What they did have was a vision which they hoped could surf a wave of political support - and attract the necessary funding.

Hmmm....

 

[markjay]

Sounds odd. We've

ALAS---NO CUSTOMERS

Sounds odd. We've been told that the bottleneck for EV adoption is the lack of battery manufacturering capacity. I'm guessing that their figures didn't add-up without government subsidies, that didn't materlise?

 

[grober]

Glencore and Jaguar owner join battle for collapsed Britishvolt

Britishvolt collapsed into administration this week in a major blow to the UK's hopes of creating an electric car powerhouse. It has put 230 jobs at risk.

www.thisismoney.co.uk

I suspect it's much like the scenario with car manufacturers who tout proposed new car construction plants around Europe looking for government finance to build them using the creation of local jobs as the political attraction. The BBC article cites delays in plant construction for government pulling the plug, but I suspect it's more to do with building future finance from investors. Glencore would see it as an outlet for their mining products and Jaguar [Tata] as as a UK source of EV batteries, with government finance filling in the very expensive manufacturing gap. Perhaps UK government expected a greater contribution /commitment to the project from these investors at this point in time which was not forthcoming?

 

[leef44]

Glencore and Jaguar owner join battle for collapsed Britishvolt

Britishvolt collapsed into administration this week in a major blow to the UK's hopes of creating an electric car powerhouse. It has put 230 jobs at risk.

www.thisismoney.co.uk

I suspect it's much like the scenario with car manufacturers who tout proposed new car construction plants around Europe looking for government finance to build them using the creation of local jobs as the political attraction. The BBC article cites delays in plant construction for government pulling the plug, but I suspect it's more to do with building future finance from investors. Glencore would see it as an outlet for their mining products and Jaguar [Tata] as as a UK source of EV batteries, with government finance filling in the very expensive manufacturing gap. Perhaps UK government expected a greater contribution /commitment to the project from these investors at this point in time which was not forthcoming?

My guess is this is what has happened. Government funding will require certain requisites in terms of targets and reaching certain level of private investment commitments e.g. signed contract.

I suspect these have not been achieved and in the mean time the consultancy costs continue to escalate leaving cash flow constraints, liquidity issues then Administration.

 

[grober]

With all these projects it's to do with confidence. Since the plants inception we have had a large increase in electricity generation prices and criticisms in the motoring press about the rollout of national charging outlet infrastructure. Just takes one issue to tip the balance and investment confidence to take a dive.

 

[mioba]

Maybe the forces that be have realised that people cant even afford electricity for their houses never mind charging car batteries - and they have to buy an e car first.

perhaps the govt realised they wont get any of their 4bn invest back any time soon.

 

[markjay]

Maybe the forces that be have realised that people cant even afford electricity for their houses never mind charging car batteries - and they have to buy an e car first.

But it's still far cheaper per mile than Diesel or petrol (motorway services superchargers aside)?