The woes of startup Britishvolt

Fake it till you make it has been the guiding maxim of British government policy for national renewal since Brexit. Don’t be a declinist remoaner, they say, instead enjoy the feeling of being a science superpower, an innovation hub, a global player, a new fount of regulation, and watch those entrepreneurs go, go, go. See them thrust into new markets as those great trade deals open up the world to British ingenuity.

In reality, the country has gone from hero to zero in a few months. The bankers are clamouring to slow the economy by pushing down wages and for cuts in public expenditure.

This is the context in which we should understand the sorry story of Britishvolt. The startup was formed in 2019 to build batteries for electric cars in the UK. It was first to be established (with promise of government subsidies) in south Wales, and then in Blyth in Northumberland, again with large subsidies promised. Three years later, it is considering going into administration amongst other options.

Continued in the Guardian 12 November 2022