Innovative British electric motor developer Saietta has gone into administration after running into cashflow problems. The Silverstone-based company built lightweight axial flux traction motors aimed at smaller electric vehicles such as motorbikes and three-wheelers, but was unable to keep itself afloat after backing out of a deal earlier this year to contract manufacture electric steering pumps at its Sunderland plant.
The company had in recent years focused on expansion in the Indian two and three-wheel market via a joint venture with local automotive supplier Padmini VNA. The company said in November it had struck a deal with an unnamed Indian vehicle manufacturer to supply both its axial flux and radial motors for a three-wheeler with production of the vehicle with the axial flux motor starting in October 2024. In 2022 Saietta was handed a £2.
Source: News Formal (newsformal.com)
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