Written question asked by Bill Esterson (Labour) on Tuesday, 21 February 2023, in the House of Commons. It was due for an answer on Friday, 24 February 2023 (named day). It was answered by Nusrat Ghani (Conservative) on Friday, 24 February 2023 on behalf of the Department for Business and Trade.
Britishvolt: Insolvency
- Question
-
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 15 February 2023 to Question 140089 on BritishVolt: Insolvency, what agreed milestones had to be achieved for the company to draw down on any Automotive Transformation Fund funding.
- Answer
-
The Government remains committed to developing a globally competitive EV supply chain in the UK, including unlocking private investment in gigafactories.
All Automotive Transformation Fund applications are subject to a process of due diligence to test key assumptions such as those which underpin the value for money analysis, viability, compliance with subsidy control and wider legal requirements.
This is vital to ensure that awards are robust and protect taxpayers’ interests.
There are significant commercial sensitivities related to funding arrangements for potential future grant awards, so it would not be appropriate to go further into the details of this matter.
Secondary information
- Type
- Written question
- Reference
- 149460
- Session
- 2022-23
- Related items
- Grouped for answer
- Yes
- Subjects
- Insolvency BritishVolt Automotive Transformation Fund
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-02-24 14:24:43 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2022-23/149460
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2022-23/149460
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2022-23/149460