Britishvolt Founder and Chief Exec Steps Down Over Funding Fears

Orral Nadjari, founder and Chief Executive of battery manufacturer Britishvolt has reportedly stepped down after the company ran into problems.

The British battery manufacturing company had been due to start work on its £3.8 billion plant in Northumberland but the project had been put on "life support" to cut costs, according to a leaked internal document. 

Nadjari will hand over the running of the company to his deputy, Graham Hoare. 

"I am extremely proud of what Britishvolt has achieved since the business was founded in 2019, exceeding all expectations and bringing my vision to life. My vision was only possible because of all of the foresight of UK Government in creating a world-class battery cell ecosystem," said Nadjari. 

"In less than three years, we have created an enduring and sustainable organisation and remain focused to hit our mid-decade strategy of Phase One production at our UK Gigaplant.

"Although it was a difficult decision for me to step away from the operational management of the company, now is the right time for me to pass the reins, after laying the foundations, to our hugely talented, world-leading team, who will drive the business forwards as it enters the execution phase. They have my complete trust to take Britishvolt to the next level."

Britishvolt also said the change "position[s] the company for continued excellence as it rapidly moves toward operational execution."

Recent reports had suggested that construction of the plant would be extremely limited until February. Britishvolt had promised to deliver the first battery cells to customers this summer and had signed deals with Lotus and Aston Martin to design and build bespoke batteries for upcoming models.