• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Business and Economics

WATCH: BritishVolt collapsed due to Sunak/ Johnson rivalry

"The North East wasn't as important for them as maybe other places in this country", Orral Nadjari said in an explosive interview.

Jack Peat by Jack Peat
2023-05-17 14:51
in Business and Economics
FacebookTwitterLinkedinEmailWhatsapp

The rivalry between Rishi Sunak and Boris Johnson led to the eventual demise of BritishVolt, the firms former CEO has said.

Speaking to Ed Conway on Sky, Orral Nadjari said Britain has now missed its window of opportunity to build a battery industry, laying the blame at the government’s door.

The electric car battery company collapsed in January almost a year to the day since BJohnson, the then-prime minister, trumpeted the number of jobs being created at the site.

It has since been described as a ‘monument to global Britain’s empty hype’.

Now, in his first interview since its implosion, co-founder Orral Nadjari blamed government bureaucracy for its failure.

“We lost that window of opportunity,” said Mr Nadjari. “We already are behind East Asia. We’re already behind continental Europe. The UK, unfortunately, has lost out or is losing out on the gigafactory economy, which is massive in terms of job creation.

“Unfortunately we didn’t see that same support from the Conservative government in order to level up the North East. Because the North East wasn’t as important for them as maybe other places in this country.”

The government agreed in principle to provide funds to help the company build the factory, but the Treasury repeatedly dragged its heels, Nadari said.

Even after all the necessary paperwork had been done, the relevant papers sat on the then Chancellor Rishi Sunak’s desk for months before being formally approved.

RelatedPosts

Corporate Catering Ideas 2025: Fresh Ideas for Feeding Your Team

Martin Lewis urges people born between 1986 and 2007 to put £1 in this bank account ‘ASAP’

Trump unveils $499 gold mobile phones for ‘real Americans’

No ‘millionaire exodus’ as a result of Labour policies, study finds

That delay was fatal, Nadjari alleged, because it meant that Britishvolt ended up trying to raise most of its money at a period of war and sky-high inflation, when global investment was cratering.

“Nobody could foresee a two digit inflation, that the country hasn’t seen since 1955,” he said, adding that Britishvolt was “caught between a rock and a hard place” as Mr Sunak and Boris Johnson battled during the former prime minister’s last days in office.

“Nobody could foresee three different prime ministers, four different chancellors… The UK saw a very turbulent time… and for a startup, what is important is that continuous capital injection and that really halted off and unfortunately because of that rivalry, we were hit with a delay.”

Related: One of the world’s biggest carmakers threatens to pull production in UK over Brexit

Tags: headline

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← ‘Nigel Farage can admit Brexit has failed. Why can’t Labour and the Conservatives?’ – SNP ← Prince Harry and Meghan Markle involved in ‘near catastrophic car chase’
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->