Unable to find investors, Britishvolt files for insolvency

To survive in a highly competitive market, upcoming battery makers must nurture strong partnerships with electric vehicle manufacturers to secure large volume orders early on based on their technological innovations

Battery startup Britishvolt filed a notice to appoint an administrator in the insolvency courts in the UK on January 17, 2023, after failing to raise funds from new and existing investors to keep the business afloat. While a majority of 300 existing employees have lost their jobs as an immediate consequence of Britishvolt’s liquidation, the development is also being seen as a blow to the UK government’s efforts of establishing a flourishing ecosystem for electric vehicle (EV) and battery manufacturing in the region.