A gigafactory in Northumberland is to create up to 8,000 jobs and build 300,000 batteries for electric vehicles a year.
The government has provided battery company Britishvolt with a final grant offer through its Automotive Transformation Fund for the huge site in Blyth.
The government says its support will help to unlock a significant amount of backing from private investors.
It is estimated that the project will create 3,000 direct highly-skilled jobs and another 5,000 indirect jobs in the wider supply chain.
“I’m delighted to confirm we have now provided Britishvolt with a final grant offer through the Automotive Transformation Fund,” said Business Secretary Kwasi Kwarteng.
“The Blyth gigafactory will turbocharge our plans to embed a globally competitive electric vehicle supply chain in the UK and it is fantastic to see how the project is progressing.
“The vast site will ensure Britain can fully capture the benefits of the booming global electric vehicle market. The well-paid jobs and growth it will generate for the North East of England will be transformational and are exactly the reason we are investing to make the UK the best place in the world for automotive manufacturing.”
The government originally announced backing for the project in January 2022.
The Automotive Transformation Fund is an £850 million programme to electrify Britain’s automotive supply chain and protect its competitiveness in the global market.
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