Following the news that Britishvolt is due to enter insolvency;

Daniel Clarke, Thematic Analyst at GlobalData, a leading data and analytics company, offers his view:

“Simply, the UK Government has failed to put its money where its mouth is. After promising a measly £100 million to ‘put the UK at the helm of the global green industrial revolution’, Britishvolt has been left with no choice but to shut up shop. The EU, China, and the US have invested significantly more in batteries, and have developed more targeted and useful subsidies and regulation. It is no surprise they have all got much better results.

“Successive governments have promised of a green industrial revolution. However, ahead of COP27, this news is a timely and gloomy example of rhetoric having a reckoning with reality.

“Subsequently, due to consecutive government’s unwillingness to invest early in a key industry of the future, the UK will undoubtedly be reliant on battery imports from foreign champions, including market-leading Chinese companies. This year has shown how energy can be weaponized. Britain has now left itself in a geopolitically vulnerable position in a core technology vital in ensuring future energy security.”