Glencore "has emerged as a cornerstone investor in Britishvolt, ...

[Bouleversee]

...the giant "gigafactory" under construction at Blyth", according to a recent article in The Times Business. By 2027, Britishvolt plans to make enough batteries each year to power 300,000 electric cars. Glencore will be supplying the necessary cobalt and nickel and already had a financial interest but have now committed to another £40m. in a third private fundraising.

I already had a small holding in Glencore and decided that this venture merited a small top-up, even though it is not likely to produce much of a return in the immediate future. We are certainly going to need lots of such batteries and I am not aware of much competition in their manufacture in this country as yet. I'm finding it difficult to find any holdings I do want to up at the moment.

[Bouleversee]

Isn't it this company that has gone into administration? I'm surprised Glencore's s.p. has gone up a fraction rather than down. Hope it stays up.

[scrumpyjack]

Glencore's 'investment' in Britishvolt is trivial compared to the size of Glencore. Its market cap is £70 billion and it has put less than £100m into BV I think. Very unlikely to affect the SP

[Bouleversee]

Quite right. That thought did occur to my aged brain after I had posted. That's a relief in one way but in another it's a pity they didn't put a bit more in. I wonder if it will be rescued by another company. We do need our own suppliers so as not to be reliant on other countries.

[GrahamPlatt]

Apologies that the source is twitter, and in French to boot

https://twitter.com/guillaume_ggc/statu ... 3856015360

But it translates as
“Verkor's future electric battery factory in Dunkirk.
After ACC & Envision/AESC, this will be the 3rd gigagactory to come on stream in the Hauts-de-France’s « Battery Valley »
€2bn and 2,000 jobs.
Construction to start mid-2023
production start: 2025 “

So our sole hope which ought, if all goes well, start production in 2027, seems a little …well, weak?