Britishvolt is delaying production at its electric car battery plant in Northumberland by six months until 2025.
Production of battery cells at the Northumberland ‘gigaplant’ had been due to start by the end of 2023 before being pushed back to the end of 2024.
But now production plans have been rescheduled to mid-2025 due to “rampant inflation”, “rising interest rates” and “ballooning energy costs”.
It means there is a total adjustment of 18 months from its originally planned 2023 production timeline.
The battery startup said it is already shipping some cells for testing by customers.
Ben Kilbey, spokesperson, Britishvolt, said: “Plans remain on track and are agile and nimble to counter external market forces. On top of current inflationary pressures, and an increase in interest rates, we are also seeing ballooning energy costs on the back of geopolitical uncertainties.”
Britishvolt said it is pressing ahead with the construction of its Hams Hall scale-up facility in the Midlands, which will be a “mini replica” of the gigafactory in Northumberland.
Kilbey added: “We are also living through a global energy crisis, of which no one is immune. What it highlights is the fact that batteries are essential for a successful energy transition and energy independence. Our key priority is the success of the business and playing a vital role in the energy transition.”
It comes shortly after Britishvolt founder Orral Nadjari announced he is stepping down as CEO, with Dr Graham Hoare appointed acting CEO.
Founded in 2019, Britishvolt has raised around £200m and has received government funding for its battery cell gigaplant. It is currently working with both Lotus and Aston Martin on the technology.
In May, Britishvolt acquired German battery cell developer and manufacturer EAS for €36m (£30m).
The post Britishvolt delays battery production by six months amid soaring energy costs appeared first on UKTN | UK Tech News.
