Business collapses with implications for 750,000 jobs

I haven’t followed this closely, but it appeared to be a lifeline for jobs close to a ‘depressed’ area.

I saw the report about this last night and my first thought was so this is more production work that will probably end up going abroad. This would have been a great opportunity for the economy in this country. We have the land the resources people needing work but it looks like we are going to rely on more imports.

It also highlights the imposition of unrealistic targets to be met about electric cars by 2030 without first attending to the supporting infrastructure.

It absolutely does, eazybee.

This is so disappointing - so much for the 'levelling -up' agenda.

There did seem to be some optimism that another investor will be found when I saw this on the BBC news last night, but it seems a bit of a forlorn hope to me.

Dreadful news and clearly there are/will be a knock on effect - but 750,000 jobs ?

UK battery start-up Britishvolt has collapsed into administration, with the majority of its 232 staff made redundant with immediate effect
Plans for the £3.8bn factory in Blyth were part of a long-term vision to boost UK manufacturing of electric vehicle batteries and create around 3,000 skilled jobs

I’m sure you’ll tell me what I am missing!

Is this one for the ‘exaggerating’ thread?

I’m sure you’ll tell me what I am missing

The entire British motor industry. Details in the OP.

I actually undershot - there are 800,000 people employed in that industry

eazybee

It also highlights the imposition of unrealistic targets to be met about electric cars by 2030 without first attending to the supporting infrastructure.

The infrastructure exists - it just won't be in the UK.

Ah, now I understand - you’re talking about implications for 800,000 jobs in 2030? Sorry, slow on the uptake. As Harry said, a lot can happen between now and then.

👍🏼

Implications. As I said in the title. 800,000 employed in that industry right now, whose futures have just become significantly less secure.

From what I’ve read Britishvolt did not achieve the milestones agreed to trigger government funding.
I’m hoping another investor might reçue it, Tata possibly.

Rescue.

I’ve just seen this about a new factory.
news.sky.com/story/advanced-battery-plant-in-oxfordshire-to-be-opened-later-this-year-creating-up-to-300-new-jobs-12789274

That's good news. 👍🏼

It is good news, but at the risk of sounding ‘arsey’ it’s up here in the North East where jobs are desperately needed. Of course with HS2 only going as far as Leeds, we are again forgotten.

The implications surely reach beyond the motor industry, and into all the businesses, that are dependant on spending by motor companies and by their employees. And then that ripples out to lower local taxes, poorer public services, with fewer public servants, reducing economic activity still further.

And in the time I took to the, what I wrote is at least partially negated!

Georgesgran

It is good news, but at the risk of sounding ‘arsey’ it’s up here in the North East where jobs are desperately needed. Of course with HS2 only going as far as Leeds, we are again forgotten.

Agreed Georgesgran.

Siope

And in the time I took to the, what I wrote is at least partially negated!

I don't think that what you wrote was even partially negated. One new battery factory isn't going to be able to supply the entire UK motor industry.

And your analysis of the economic consequences looked pretty good to me

I don't know all the details of what went wrong, but surely, if the business is actually viable, this is a case for some state investment. State money is as good as anyone else's for driving the economy.

Yet again we are going to find ourselves reliant on other countries for something quite basic. With the threat of China invading Taiwan we may find ourselves without important technical stuff ( I’m not very knowledgeable about thing like that, I assume it’s chips and stuff?) but a British company that was planning to manufacture such things didn’t get the backing they needed. Will the government ever learn?

Thank you, Maizie. And of course you’re right that one factory isn’t enough, but hopefully, it will provide a sustainable, replicable model.

Some Australian millionaire is said to be interested in setting up battery factory in UK. I think it was on Sky.

I think that's the Oxfordshire factory mentioned above.