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Saietta Group Seeks to Accelerate Growth and List on London Stock Exchange

Saietta Group Seeks to Accelerate Growth and List on London Stock Exchange

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Saietta Group, the UK-based company that developed the innovative Axial Flux Technology (AFT) electric motor, announced its listing on the London Stock Exchange’s AIM market, raising expected gross proceeds of £ 37.5million sterling (Rs 340 crore) with an approximate market capitalization of 102.1 million pounds sterling (Rs 924 crore) at issue price.

Saietta’s admission to AIM on July 7 will be a milestone in the continued development of the company and will support the acceleration of its business progression towards mass production of the proprietary AFT electric motor for a range of market applications. global.

The IPO will provide Saietta with the capital to execute its growth plans, including establishing an engine durability testing facility and helping to expand a pilot production facility, which will increase capacity of the company’s European production to 100,000 units per year.

As governments and automakers scramble to decarbonize and develop new electric vehicles (EVs), there is a significant and growing demand to make EV technology more accessible. Affordable electric propulsion and battery systems are key to lowering electric vehicle costs and enabling widespread adoption. This is an essential step for many emerging economies and cities plagued by chronic air pollution, especially in Asia.

Beginning of May 2021, Saietta announced a partnership agreement with Padmini VNA, one of the leading Tier 1 automotive suppliers in India. The business deal will see Padmini’s partner, Saietta, develop new opportunities in India’s fast-growing electric two-wheeler market.

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Saietta’s Axial Flux technology is designed to deliver the power and torque required by 100cc + two-wheelers at just 48V-120V. The company has partnered with Padmini VNA for its entry into the Indian market.

The AFT 140 is the first engine variant in production that is optimized for medium horsepower motorcycles and last mile delivery vehicles. AFT’s unique design delivers peak performance with high torque density at low voltage and is particularly efficient on urban duty cycles. AFT has been rigorously designed for high automation of volume production, which means AFT offers peak performance for the L-class target market.

Wicher Kist, CEO of Saietta Group plc, commented: “We have been greatly encouraged by the very positive reaction to our IPO which has attracted support from several blue chip institutions. This puts us in a strong position to execute our exciting strategy.

“Although the auto industry has focused on the electrification of the passenger car segment, Saietta has taken a contrarian view and focused on high volume, high growth markets. We have taken high-end, high-performance technology and redeveloped it for low-cost mass production, giving our AFT motors potential in a wide range of EV applications.

“We believe we are uniquely positioned to disrupt the Asian light motorcycle market, which is expected to dominate demand for motorcycles; Global annual motorcycle sales are expected to reach around 100 million by 2030, of which 40% are expected to be electric. We aim to capture a significant share of the growing market for electric motorcycles. “




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