There are still hopes for a new battery factory in Northumberland despite fears at the weekend after a police raid on the buyer of Britishvolt.
Australian entrepreneur David Collard rescued Britishvolt after the manufacturer collapsed into administration earlier this year, salvaging hopes for a new plant near the Port of Blyth.
But the offices of Collard’s investment fund, Scale Facilitation, were raided by Australian federal police, who seized IT and communications equipment.
Deal: It has been hoped the factory will help revitalise Britain’s adoption of electric vehicles
Recharge Industries, the subsidiary of Scale Facilitation, still has not paid for the new factory.
It has been hoped the factory will help revitalise Britain’s adoption of electric vehicles. But sources close to Collard told the BBC that Recharge was hopeful a deal for the £4billion plant would be reached.
They said the company was optimistic it would secure enough cash to complete a purchase of land near Blyth within the next month.
Australian police were looking into concerns about tax while there were also worries that staff at the Scale Facilitation office had not been paid.
But a spokesperson for Scale Facilitation denied any wrongdoing, while the BBC’s sources close to the company put the raid down to a misunderstanding.
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