Saietta Group plc

SED

GB00BNDM6X87

Heavy Electrical Equipment

Delayed London S.E. Other stock markets 02:30:00 2024-03-04 am EST			5-day change	1st Jan Change
0.65 ^GBX	-.--%		-.--%	-96.29%

Apr. 05	Saietta Group Delists from London's AIM	MT
Apr. 05	Saietta shares cancelled from AIM trading as puts itself up for sale	AN

Saietta shares surge on new order from lead Indian client

November 13, 2023 at 07:06 am EST

Saietta Group PLC - Towcester, England-based designer, engineer and manufacturer of 'eDrive' solutions for electric vehicles - Saietta VNA, its 49.5%-owned Indian joint venture, receives second order for complete eDrives from an anonymous global original equipment manufacturer, "one of the largest producers of light commercial vehicles in the Indian market". The OEM has ordered around GBP106,000 of systems using Saietta's new radial flux technology motor for pilot production over approximately the next three months. Saietta expects the deal to generate around GBP12.7 million in revenue. It previously announced in September that the customer had ordered an eDrive consisting of Saietta's axial flux technology motor, for which production is underway. Saietta expects production of the RFT system to commence in the second quarter of 2024. Adds that it is in advanced discussions with key stakeholders regarding potential funding, as it hopes to "capitalise on the clear opportunity in the Indian lightweight vehicle market".

Current stock price: 23.39 pence, up 18% on Monday in London

12-month change: down 68%

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Saietta Group plc

Saietta Group Delists from London's AIM	Apr. 05	MT
Saietta shares cancelled from AIM trading as puts itself up for sale	Apr. 05	AN
EARNINGS AND TRADING: Impairment charge pushes Quartix into the red	Mar. 04	AN
Saietta seeks buyer or fresh investment to stave off administration	Feb. 23	AN
FTSE 100 ends day higher but suffers weekly loss	Feb. 23	AN
Saietta Group Kicks Off Formal Sale Process	Feb. 23	MT
Saietta Decides to Conduct Formal Review of Strategic Options Available	Feb. 22	CI
Stocks in red amid sticky US inflation data	Feb. 13	AN
Saietta Group to Sell Production Line in UK Site, Secures Orders for eDrive Vehicles Technology	Feb. 13	MT
AIM WINNERS & LOSERS: Kefi jumps as Tulu Kapi funding closer	Feb. 13	AN
Saietta down after failing to secure steering pump contract	Feb. 13	AN
AIM WINNERS & LOSERS: Harland & Wolff rises as loan talks progress	Dec. 29	AN
Saietta narrows first-half loss as it moves towards production	Dec. 29	AN
FTSE 100 to edge higher, rounding off lacklustre year	Dec. 29	AN
Earnings Flash (SED.L) SAIETTA GROUP Reports Fiscal H1 Revenue GBP977,229	Dec. 29	MT
Earnings Flash (SED.L) SAIETTA GROUP Posts Fiscal H1 Loss GBX-7.78	Dec. 29	MT
Saietta Group plc Reports Earnings Results for the Half Year Ended September 30, 2023	Dec. 29	CI
First Class says Zigzag enthusiasm "vindicated"	Nov. 28	AN
Saietta Group Targets GBP6 Million in Fundraising	Nov. 28	MT
Molten Ventures completes raise; Saietta proposes one	Nov. 27	AN
Saietta shares surge on new order from lead Indian client	Nov. 13	AN
AIM WINNERS & LOSERS: Brave Bison wins GBP4 million in contracts	Nov. 13	AN
Saietta Group's Stock Rises With New Order for Indian JV	Nov. 13	MT
Saietta Group plc's Joint Venture Saietta VNA Secures Second Major eDrive Order from Mainstream Indian Client	Nov. 13	CI
Stocks fall as risk sentiment remains downbeat	23-10-19	AN

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Company Profile

Saietta Group Plc is a United Kingdom-based company, which is engaged in the multi-national business that designs, engineers and manufactures complete electric drivetrain (eDrive) systems for electric vehicles. The Company's technologies include Axial Flux Technology (AFT) and Radial Flux Technology (RFT) motors, power electronics, powertrain controls, mechanical axles, transmissions and vehicle control units. The Company's solutions can be tailored to a specific application. Its products have applications in Light Duty eDrives (two wheels), Light Duty eDrives (three and four wheel), Heavy Duty eDrives and Marine. Its products include eMotor, Integrated Motor and Inverter, eDrive Radial Flux, eDrive Axial Flux, eAxle, and Vehicle Control Unit (VCU). It is developing a RFT motor to complement its Axial Flux products and offer a wider power, torque and product range to customers. Its Light Duty eDrives (two wheels) products include RFT85-65 48V, AFT140i 48V and AFT140i 96V.

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Heavy Electrical Equipment

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