Saietta, the British electric vehicle (EV) drive manufacturer, is currently facing financial difficulties, having put itself up for sale in February without securing any buyers. The company now finds itself at a critical juncture, potentially facing closure.
Due to the lack of buyer interest, Saietta has officially entered Administration, with Lucy Winterborne and Dan Hurd appointed to oversee the process.
Saietta was previously recognized for its lightweight axial flux traction motors designed for small electric vehicles like trikes and motorbikes. The company garnered attention approximately a year ago when the US low-speed electric vehicle manufacturer Ayro placed a significant order for 3,000 electric drive systems from Saietta.
The company had also made headlines at the 2022 IAA in Germany, showcasing multiple drive concepts. Prior to this, Saietta had received funding from the UK government and had announced plans to acquire the former ZF factory in Sunderland in April 2022.
