Company praises ‘dedicated employee team’ as it confirms it can fund ‘the coming weeks’
Staff at struggling electric car battery start-up Britishvolt have agreed to a pay cut as the company races to secure its long-term future.
Up to 300 members of staff at the company championed by Boris Johnson will enter into a salary-sacrifice scheme for this month, it announced on Wednesday.
Britishvolt also confirmed it has short-term funding that will allow it to survive “for the coming weeks”.
The rescue wards off the threat of imminent collapse. Britishvolt was on the brink of appointing administrators earlier this week.