UK battery startup Britishvolt in talks to sell majority stake

Company says it is hoping to secure long-term funding so it can build ‘gigafactory’ in Blyth, Northumberland

The battery startup Britishvolt is in talks to sell the majority of its shares to a consortium of investors, in a deal that could allow it to continue pursuing its goal of building a UK “gigafactory”.

Britishvolt said it was hoping to secure long-term funding in the talks, which are thought to be with new investors. Bosses at the company have been looking for new funding for several months, after its efforts to build the giant facility near Blyth in Northumberland stalled amid a cash shortage.