In the News
Regional Economics - Turmoil engulfs Britishvolt’s £3.8bn battery factory
This story could be ether micro or macroeconomic, but it seems that the future for the much vaunted electric car battery factory, Britishvolt, is not as rosy as the artist's impression associated with the article implies.
The reality is that the company is struggling to acquire the necessary capital, has already put back battery production to 2025, and is struggling to secure the amount of government funding that it would like. And given the other problems associated with the project, and the present environment, there must be doubts about the viability of the plant.
And what does this imply for the region - the factory was 'intended' to employ 3,000 people near Blyth, Northumberland. It seems as though it is crunch time.