Business collapses with implications for 750,000 jobs

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.

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

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.

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.

That's good news. 👍🏼

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

Rescue.

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.

👍🏼

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

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.

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.

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

Is this one for the ‘exaggerating’ thread?

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!

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.

It absolutely does, eazybee.

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

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.

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