But after filing for administration in January, it has now been bought by Australian firmRecharge Industries.
Now, battery maker Recharge Industries has won the bid to buy Britishvolt out of administration.
The Australian startup is owned and run by a New York-based investment fund,Scale Facilitation.
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This leaves theUKwithonly one existing battery plant, next to the Nissan factory in Sunderland.
The plant is owned by Chinese company Envision AESC.
But its not just takeovers by overseas companies that threaten the UKs plans to build a competitivebatteryproduction sector.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
