A UK start-up backed by former shareholders of collapsed battery group Britishvolt is teaming up with a Chinese supplier to try to build a £1bn gigafactory.
Coventry’s Volklec is backed by UK-based investment firm Frontive Group, which is controlled by brothers Imran and Sameer Khatri, past investors in Britishvolt who were unsuccessful in trying to buy the failed business out of administration two years ago.
The new venture aims to avoid the fate of the defunct business, which failed in part because it attempted to build a plant without having customers or batteries.
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