Glencore Acquires Stake in U.K. Battery Maker Britishvolt
- Deal gives Britishvolt long-term supply of key material cobalt
- Company is building giant battery factory in northern England
A rendering of the proposed Britishvolt Ltd. battery factory.
Source: Britishvolt
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Mining giant Glencore Plc acquired a stake in Britishvolt Ltd., allowing the U.K. battery maker to secure long-term supplies of key material cobalt.
Britishvolt is building the U.K.’s first giant battery factory in northern England. It will produce batteries for electric vehicles, with demand set to grow as the U.K. bans sales of new gasoline- and diesel-powered cars by the end of the decade.