Australian Firm Launches Bid to Rescue Collapsed UK Battery Company Britishvolt

Australian Firm Launches Bid to Rescue Collapsed UK Battery Company Britishvolt
Peter Rolton, executive chairman of electric vehicle battery start-up Britishvolt, shows a billboard at the site of the company's large planned battery plant, in the former industrial town of Blyth, England, on Jan. 27, 2022. Nick Carey/Reuters
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An Australian start-up has launched a rescue bid for British electric car battery business Britishvolt, which was once praised by former Prime Minister Boris Johnson but fell into administration last week.

Recharge Industries said it lodged a late takeover bid on Tuesday for the firm, a week after Britishvolt collapsed and made the majority of its roughly 300 workers redundant.