Written questions, answers and statements

Britishvolt: Insolvency

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Question for Department for Business and Trade

UIN 149460, tabled on 21 February 2023

Question

Bill Esterson
Labour
Sefton Central
Commons

To ask the Secretary of State for Business and Trade, pursuant to the Answer of 15 February 2023 to Question 140089 on BritishVolt: Insolvency, what agreed milestones had to be achieved for the company to draw down on any Automotive Transformation Fund funding.

Answer

Ms Nusrat Ghani
Conservative
Wealden
Commons

Answered on

24 February 2023

The Government remains committed to developing a globally competitive EV supply chain in the UK, including unlocking private investment in gigafactories.

All Automotive Transformation Fund applications are subject to a process of due diligence to test key assumptions such as those which underpin the value for money analysis, viability, compliance with subsidy control and wider legal requirements.

This is vital to ensure that awards are robust and protect taxpayers’ interests.

There are significant commercial sensitivities related to funding arrangements for potential future grant awards, so it would not be appropriate to go further into the details of this matter.

Answered by

Department for Business and Trade
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