Video report by Gregg Easteal
The government has confirmed its support for the creation of an electric-vehicle battery plant in Northumberland.
It will invest in Britishvolt as the car battery manufacturer works to build Britain's first large-scale ‘gigafactory’ in Cambois near Blyth.
Britishvolt has an in-principle offer of funding through the Automotive Transformation Fund which has enabled a long-term partnership with Trixtax and Abrdn that will deliver £1.7bn in private funding.
The government backing is for an undisclosed amount but is believed to be around £100m.
It is a huge boost for the region as the project will create 3,000 jobs at the site as well as a further 5,000 in the wider UK supply chain.
The Gigaplant will build enough cells each year for over 300,000 electric vehicle battery packs.
Sales for electric vehicles continue to strengthen and domestic batteries are a vital ingredient in meeting this demand.
Construction work on the site of the former Blyth Power Station coal stocking yard got underway in September 2021. Today's confirmation of Government and private sector investment means plans for the site can now move forward.
Peter Rolton Britishvolt Executive Chairman said 'This announcement is a major step in putting the UK at the forefront of the global energy transition, unlocking huge private sector investment that will develop the technology and skills required for Britain to play its part in the next industrial revolution.'