The expansion plans should generate 150-250 jobs in the area over the next three to five years, and will be funded by a fresh investment round. Saietta manufactures a radical, lightweight and efficient motor for electric powered aircraft and boats and the company has also launched the first manned electric helicopter flight. Its radical Axial Flux Traction (AFT) motor is widely supplied to the mass electric vehicle (EV) market and the company is planning to sell its technology under licence in Asia and the rest of the world.
AFT technology can be used in all mobility solutions, from scooters to buses. Saietta is seen globally as one of the most disruptive EV technology businesses in the world, and lists leading OEMs as its clients today.
“We have now reached the point at which the last three years of planning can be realised” said Wicher Kist, Chief Executive Officer Saietta Group. “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.”
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