Saietta, an Oxfordshire-based manufacturer of lightweight electric motors and controllers, has announced plans to expand its production facilities, funded by a fresh investment round.
According to the company, the new plant will be powered by solar panels and create 150-250 jobs in the area over the next three to five years.
Saietta’s axial flux traction motors are currently used in electric-powered aircraft, boats and motorbikes, however the company said it now aims to roll out the technology to the mass EV market, in applications ranging from scooters to buses.
The UK company also plans to sell its technology under licence in Asia and the rest of the world.
Wicher Kist, CEO of Saietta Group, said: “We have now reached the point at which the last three years of planning can be realised.
“To have seen market demand increase so significantly means that a new round of funding will allow us to capitalise on the wave of vehicles that will be entering development soon.
Underlining the company’s plans, former Goldman Sachs managing director Emmanuel Clair has been appointed as non-executive chairman.
“The appointment of Emmanuel Clair is a natural step in our evolution and signals that we have the impetus to deliver transformative solutions for mass-market EVs,” added Kist.
“Emmanuel and I have worked together successfully for the last three years and we can finally start to roll out our technology, and clean up the air in large cities around the world.”
