Britishvolt bought out by Aussie battery firm
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Hello and welcome back to The Fast Charge, a British EV newsletter.
Top stories in today’s edition… a short summary of the company behind the purchase of Britishvolt, Scottish-based Munro faces legal action for patent infringement, and EV sales continue to power new car registrations.
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Britishvolt bought out by Aussie firm
What’s happened? Britishvolt, the battery gigafactory that recently went into administration, has been bought by an Australian company named Recharge Industries - which is backed by a New York based fund called Scale Facilitation. As part of the deal, Recharge will acquire the majority of Britishvolt’s business and assets which, according to reports, they paid a premium for compared to other bidders. See Sky News.
Why? Recharge Industries is already planning to build a facility in Australia to produce EV batteries and is undertaking a significa…
