British CEO hails ‘excellent’ Brexit move as UK’s first gigafactory ready to supply Tesla

Battery technology firm Britishvolt is currently constructing Britain’s first gigafactory in Blyth, Northumberland, after raising £1.7billion in funding. Once finished, it will produce over 300,000 electric battery packs a year, with a total capacity of over 38 GWh by the end of the decade. As carmakers around the world gradually switch their fleets to electric vehicles, the establishment of a major battery manufacturing facility in the UK could revive Britain’s automotive industry.

Speaking to, Orral Nadjari, the CEO of Britishvolt, hailed Brexit as one of the reasons for his company’s success.

While many major companies began leaving the UK after Brexit, Mr Nadjari was confident in backing Britain.

He said: “Things like Brexit, recessions, inflation – these are cycles.

“Decades ago we voted to be part of the EU, and now we have voted to leave. It is not for Britishvolt to judge which is right.

“But what we do see when we look back on these trends is Her Majesty’s Government always manages to reinvent itself.

“There’s a reason why the pound is the strongest currency in the world, it’s called the Sterling.”

Mr Nadjari noted that while foreign investment in the UK was plummeting, Britishvolt saw a major opportunity.

He said: “When it comes to Brexit, Britishvolt was founded in 2019 and Isobel Sheldon (the company’s Chief Strategy Officer) was hired in 2020 – before we had the Trade and Cooperation Agreement with the EU.

“At that point in time, everyone was leaving the UK. You could see the foreign investment numbers plummeted.

“Britishvolt decided to stay stayed and was a contributor in 2021 and became a major contributor in 2021.

READ MORE: Musk primed for UK investment via Britain’s first gigafactory

Source link

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.