UK battery firm Britishvolt near collapse as seeks funding

Britishvolt could fall into administration as soon as Monday after the UK battery start-up failed to secure fresh funds.

The firm, which has been championed by the government, has been in emergency talks to secure funding, according to the Financial Times.

Britishvolt wanted to build a factory in Northumberland to mass produce batteries for electric vehicles.

The so-called gigafactory, not yet built, would create around 3,000 jobs.

A spokesperson for Britishvolt said: ""We are aware of market speculation.

"We are actively working on several potential scenarios that offer the required stability. We have no further comment at this time."