Australian startup Recharge finalises deal to take over UK battery maker Britishvolt

Takeover of collapsed company revives hopes for the construction of a £3.8bn ‘gigafactory’ in northern England

The Australia-based company Recharge Industries will take over collapsed battery maker Britishvolt after finalising a deal with administrators late on Sunday in the UK.

The agreement revives hopes for the construction of a £3.8bn (A$6.7bn) “gigafactory” in northern England, the backbone of a plan to modernise the British automotive industry and supply the next generation of UK-built electric vehicles.