The firm had planned to build a giant factory to make electric car batteries in Blyth, Northumberland and it had been seen a giving the region's economy a boost while helping power the future of UK car manufacturing.
Plans for the £3.8bn factory were part of a long-term vision to boost UK manufacturing of electric vehicle batteries and develop around 3,000 skilled jobs. The go-ahead was given earlier last year at the Northeast site.
The UK currently only has one Chinese-owned battery plant next to the Nissan factory in Sunderland, while 35 plants are planned or already under construction in the European Union.
Industry experts have said the UK will need several battery factories to support the future of UK car manufacturing as pure petrol and diesel engines are phased out over the next decade.
Britishvolt has been on the edge of collapse for a few months since £100m of promised government funding to build a planned battery gigafactory was delayed due to key targets for the investment being missed.
The £3.8bn project, was backed by £1.7bn of private funding, which was offered up on the condition that much of that sum would only be unlocked when the government aid was paid.
Britishvolt had intended to manufacture power cells for 300,000 electric vehicle (EV) battery packs a year, eventually employing 3,000 people on the site of the former coal-fired Blyth Power Station.
