UK Government Provides Funds For Construction Of Electric Vehicles Battery Plant

MOSCOW (Pakistan Point News / Sputnik - 21st January, 2022) The United Kingdom Government announced Friday the allocation of funds to support Britishvolt, the UK battery producer, for the construction of the first British "gigafactory" to manufacture batteries for electric vehicles as part of its net zero strategy.

"Once complete, the factory will produce enough batteries for over 300,000 electric vehicles each year, significantly supporting the UK automotive industry's transition to a zero emissions future and increased production of electric vehicles," the statement read.

The funds, amounting to 100 million ($1.4 million), will be disbursed through the Automotive Transformation Fund and will contribute to the plant erection in Blyth town in England's north-east, Northumberland.

According to the statement, the government's support will unlock private investments to the plant development, which will generate 3,000 new jobs with another 5,000 indirectly, in the wider supply chain.

"Britishvolt's plan to build a new gigafactory in Northumberland is a strong testament to the skilled workers of the Northeast and the UK's place at the helm of the global green industrial revolution," UK Prime Minister Boris Johnson said, stressing that "the new battery factory will boost the production of electric vehicle."

Under the Paris climate agreement, the UK has agreed to achieve net zero by 2050, with an interim target to reduce greenhouse gas emissions by 78% by 2035. To achieve these goals, Johnson unveiled his 12 billion 'Ten-point plan for a green industrial revolution' in November 2020, pledging to end the sale of new petrol and diesel vehicles by 2030.