Britishvolt is going into administration in a blow to the UK’s hopes that a homegrown battery maker will emerge to supply its shrinking auto industry.
The company applied for insolvency and to appoint administrators on Tuesday at the High Court in London, according to court filings.
A majority of the staff at the company were told on Tuesday that they were being made redundant with immediate effect, according to a source familiar with the matter.
With backing from mining giant…
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