Plans for a huge vehicle electric battery plant in the Vale of Glamorgan with the potential to create 3,500 new jobs have been abandoned.
Start-up venture Britishvolt earlier this year had identified a site for the 海角视频's first gigafactory at the Bro Tathan Business Park at St聽 Athan in the Vale of Glamorgan, having assessed 44 locations across the 海角视频.
It had entered into a memorandum of understanding with the Welsh Government, which owns the business park. The project had set an ambitious target of becoming operational in 2023, although that was subject to Britishvolt being able to raise 拢1.2bn.
The Welsh Government has not provided any funding to Britishvolt.
Now, following detailed feasibility studies over recent months,聽Britishvolt聽and the Welsh Government have concluded that the project will not be sited at Bro Tathan.
This is it said was primarily due to timing issues and not meeting Britishvolt's deadline of seeing the first phase of production commencing by the end of 2023.
Britishvolt chief executive,聽 Orral Nadjari, said: 鈥淒emand for batteries is accelerating quickly and we need to be in a position to fulfil that demand. We have been going through a period of intense due diligence on two sites and we have concluded that the Bro Tathan option will not meet our timetable for our first gigaplant.
"The first 海角视频 gigaplant will therefore be in an alternative location, which we will be announcing soon.
鈥淪outh Wales remains an extremely attractive location for future investment and we would like to thank the Welsh Government, and all the local agencies for their support. We look forward to an ongoing, collaborative relationship.鈥
A Welsh Government spokesperson said: 鈥淲e have been working closely with聽Britishvolt聽for several months to explore and assist their plans for the establishment of a gigaplant at Bro Tathan. Given the ambitious timescales that the company is working to, it has been mutually agreed that Bro Tathan will not be the site of聽Britishvolt鈥檚 first gigaplant.
鈥淲hile this is 聽disappointing 聽both parties agree on the high quality and potential of the 聽Bro Tathan site and remain open to a joint venture at a later date. The 聽Welsh Government will now focus on engaging with other potential 聽investors on the future of the site. We wish聽Britishvolt聽well in its ongoing work to establish the 海角视频鈥檚 first gigaplant."
The Welsh Government have not provided any financial support to Britishvolt.
Earlier this month Britishvolt said its global HQ will be located at the MIRA Technology Park in Coventry.聽 That will not determine where the gigafactory will be located, but the Midlands, with its strength in the automotive sector and related R&D, could be a frontrunner.
