Australia-based Recharge Industries bids to take over Britishvolt, potentially reviving Cambois site plans

Britishvolt had planned to build a £3.8bn gigafactory producing electric car batteries in Cambois, near Blyth, but went into administration earlier this month.

And now Australia-based Recharge Industries has made an offer to administrators that could revive plans for a factory at the site.

The company's founder. David Collard. told the Financial Times he plans to tour the Cambois site and meet UK government officials before making a formal bid.

The firm already has plans to build a factory in Geelong, south west of Melbourne, and the FT has reported it could transfer technology from that project to Northumberland.

The news follows optimism in the region that the site’s value would eventually attract a new company to the area.

Britishvolt had faced months of financial difficulties before eventually falling into administration last week and making the vast majority of staff redundant.