Troubled electric car battery maker Britishvolt is expected to fall into administration after failing to secure a buyer.

The dream of a vast gigafactory to make the batteries in Northumberland looks to be over with nothing to show after promises of thousands of jobs, billions in investment and the backing of the Government as a key route towards Net Zero.

It is understood the company will file a notice for administration in the insolvency courts later today.

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A Britishvolt spokesman declined to comment to The Northern Echo, but is expected to update workers soon about the proposed insolvency.

It comes a week after the group said it was in talks with investors over a possible sale to keep it afloat.The Northern Echo: The Britishvolt visionThe Britishvolt vision (Image: Press release)

Last Monday, the company said it was seeking a deal with a consortium of investors to purchase a majority stake in Britishvolt and secure its future.

The group’s board held further talks but decided on Monday there were no current viable takeover route, with some offers understood to be for a fraction of the projected value.

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The Government-backed start-up has been developing a £3.8 billion gigafactory in Blyth, Northumberland, and received tens of millions of pounds of financial backing from metals giant Glencore.

But it fell into emergency funding talks in November after revealing it was close to entering administration, and managed to secure funding to keep it afloat in the short term.

Britishvolt has around 300 existing employees who agreed to a voluntary salary cut for November to help reduce costs.