Just recently, electric vehicle charging company Pod Point announced its intention to float its shares on the London Stock Exchange (LSE) to fund its expansion. Now, reports have emerged that another company that is set to be a key player in the EV industry, Britishvolt, is also planning to list on the LSE.
The electric vehicle and infrastructure industry in the UK is picking up pace ahead of the 2030 ban on new petrol- and diesel-powered vehicles. Companies involved in this space are setting up ambitious expansion plans and targets in their aim to become key players in this rapidly growing market segment.
Here’s everything you need to know about Britishvolt, including when and how you can buy the company’s shares.
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What is Britishvolt?
Britishvolt was founded in late 2019 by businessman Orral Nadjari. The company aims to build the UK’s first battery ‘gigafactory’ which will be located in Northumberland, northeast England. This factory will be operational by 2023.
Britishvolt hopes to be able to produce enough lithium-ion batteries to power around 300,000 electric vehicles a year by 2027.
The company recently secured an undisclosed investment from global commodities trader Glencore. The deal will also see Glencore supply Britishvolt with cobalt, which is a key raw material in electric vehicle batteries.
When is the Britishvolt IPO due to happen?
Britishvolt was initially expected to list in the US through a special purpose acquisition company (SPAC). However, it is becoming increasingly likely that the company will list in London, as reported by the Guardian, after apparently being encouraged by Rishi Sunak’s planned reforms to stock market listing rules.
The UK government has recently been reviewing its listing rules in a bid to encourage more companies, and especially technology firms, to list in London.
There is no official date for Britishvolt’s listing at the moment. However, the expectation is that it will happen by the end of the second quarter of next year.
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When and how can you buy shares in Britishvolt?
Investors will be able to buy Britishvolt shares the day the company goes public using a share dealing account. This is basically an account that allows you to trade shares in any public-listed company and is quite easy to set up. To help you find one that is a good fit, we’ve reviewed and ranked some of the top-rated providers of share dealing accounts in the UK.
Another way for investors to buy Britishvolt’s shares is through a stocks and shares Isa. This is basically a tax wrapper that protects your investment returns from both income tax and capital gains tax.
Should you buy Britishvolt shares?
With the EV industry growing rapidly, there are reasons to be optimistic about the companies in this industry.
Just remember that there are no guarantees when it comes to investing. Your investment is always at risk, and you may end up with less than you originally put in.
If you are thinking of investing in Britishvolt, make sure you do your research first. Consider the company-specific risks and how the investment fits into your personal investment strategy. If you are unsure, consider speaking to a financial adviser first.
Please note that tax treatment depends on your individual circumstances and may be subject to change in the future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.
