An emerging Australian company yet to construct a major project will be responsible for delivering on UK hopes to electrify its automotive industry after outbidding rivals to take over collapsed battery maker Britishvolt.
In a whirlwind fortnight, Recharge Industries put together an aggressive package that also revives plans to build a £3.8bn (A$6.7bn) “gigafactory” in the north of England to supply the next generation of UK-built electric vehicles, free from Chinese materials.
The Australian company, which sits under New York-based investment firm Scale Facilitation, beat three other offers to become the preferred bidder to take Britishvolt out of the hands of administrator EY.
