Oxfordshire, UK, 12 August 2022 – Saietta Group plc (Saietta), a specialist in providing high-tech electric drive solutions, has announced strong first full year results following a successful listing on the London Stock Exchange’s AIM market in July 2021.
Commenting on what’s been a far-reaching period for the company, Wicher (Vic) Kist, Saietta’s Chief Executive Officer, said: “Our milestone agreements with key partners across the world, our strong first full year results as a public company and our successful funding round is driving our rapid expansion. The proceeds of this investment will help facilitate research, development and growth for the next phase in our strategy roadmap, ensuring that we will build on what’s been an outstanding 12 months.
“Given the economic outlook and the turbulence the industry is experiencing, we see the success of this funding round as yet another solid endorsement from the financial markets of our strategy roadmap.”
In a further development, the Saietta board has appointed highly respected industry chief, Tony Gott, as Executive Chairman. Tony is steeped with automotive experience and leadership, having recently been Vice President at Jacobs Engineering and earlier in his career Chairman and CEO at Bentley Motor Cars and then Chairman and CEO at Rolls-Royce Motor Cars.
Saietta’s growth continues
“Since the IPO, we have added a world-class factory, entered the bus and truck markets, added an in-house power electronics capability, launched a marine division, and evolved our AFT motor into fully integrated eDrive systems,” continued Wicher (Vic) Kist.
“The scope of these developments reflects the range of exciting market opportunities presented by the electrification of the global automotive and marine industries. Our aim is to be a leading eDrive business and be a showcase of engineering and production excellence as we help the world transition to zero emission mobility.”
Such has been Saietta’s transformation that the company is now positioned to be leader in providing complete eDrive solutions across the mobility spectrum, from scooters through to trucks. The right solution for the right application and all running our eDrive controls.
Standout highlights include the successful listing on the London Stock Exchange’s AIM market; the acquisition of e-Traction (subsequently renamed Saietta Heavy Duty eDrive) which is a leading supplier of electric drivetrains and high voltage power electronics for trucks, buses and heavy-duty vehicles; and signing an agreement to help develop a next-generation zero-emissions inner-city transport solution in collaboration with Electric Assisted Vehicles, a market leader in lightweight vehicle engineering and sustainable technologies.
In November 2021, Saietta launched Propel, a high-tech electric propulsion marine brand. In just eight months since its formation, Propel has brought to market two highly innovative electric propulsion technologies – the Propel S1 and Propel D1 – which use Saietta’s Axial Flux Technology (AFT).
Saietta has also progressed with plans to establish a high-tech engineering facility at Silverstone Park, UK. In India, the company has accelerated the potential of its AFT electric motors through Saietta VNA, a joint-venture partnership with Padmini VNA, a leading Tier 1 automotive supplier. Pease visit www.SaiettaVNA.com for more details.
Saietta has also just announced a Joint Commercialisation and Development Agreement (JCDA) with ConMet (Consolidated Metco, Inc). The JCDA will see Saietta leverage its proven commercial vehicle electric powertrain engineering capabilities centred in its Heavy Duty eDrive (HDE) division in the Netherlands which was acquired in November 2021 when Saietta bought e-Traction. Saietta will work in close partnership with ConMet, drawing on a deep understanding of the requirements for commercial vehicles to deliver a suite of products over the coming years that facilitates the rapid transition of trucks and buses to electric propulsion.
Wicher (Vic) Kist, concluded: “We have exceeded our own very high expectations over the last 12 months. Over the next year we are determined to maintain our focus and continue to expand rapidly. We have momentum, credibility and our team is highly innovative. And perhaps most importantly we have passion for our mission: creating clean and sustainable mobility in mega cities around the world.”
Saietta Electric Drive (SED) will be exhibiting a high-tech product portfolio at Cenex LCV in Millbrook, UK, on 7-8 September 2022 at stand C3-600 and at the IAA Hannover, in Germany, on 20-25 September 2022 at stand A52 in hall H21.