Jun 8, 2021 - 02:32 pm

Hyperdrive & BorgWarner Gateshead acquired by Turntide

UK battery manufacturer Hyperdrive Innovation and EV tech firm BorgWarner Gateshead have been acquired by the Silicon Valley-based electric motor developer Turntide Technologies. Turntide will establish operations in Gateshead, England, marking the beginning of a multi-year investment in the region.

Turntide Technologies is fairly new to the field, but makes up for that with backing by Bill Gates, Amazon’s Climate Pledge Fund, and film star Robert Downey Jr. Turntide Technologies announced that it had bought the two Sunderland-based firms, as it launched a new Gateshead-based business division focused on developing motor systems for the commercial transportation industry, named Turntide Transport.

The company will then focus on transport electrification across the board, attempting to increase efficiency in all manner of electric vehicles: “The Turntide Transport division will initially target electromechanical systems in some of the more challenging markets to decarbonize – including commercial and industrial vehicles, rail, marine and aerospace,” the company wrote.

BorgWarner Gateshead was originally founded as Sevcon, but was purchased by the US American company BorgWarner in 2017. Now the full division was sold off yet again.

“Our world is at a tipping point. We desperately need to reduce our carbon emissions, but they continue to rise despite the accelerating electrification of passenger vehicles,” said Ryan Morris, Turntide’s Chairman and CEO. “Because Turntide has been successful in driving down energy use and waste in the built environment, it is critical that we translate this success into transportation to help combat the growing threat of climate change. We are excited to incorporate the experience and innovation that these two businesses have to offer as we launch into the transport market.”

“Incorporating the technology from these two companies with the [Turntide’s patented] Smart Motor System will allow Turntide to simplify the path to sustainable transport,” said managing director of Turntide Transport Matt Boyle. “Gateshead has become well-known worldwide as a growing centre for digital business. We are excited to make Gateshead a centre for our innovation in sustainable transport, a move that reflects our confidence in the city.”

turntide.com, businessgreen.com

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Found on electrive.com
https://www.electrive.com/2021/06/08/hyperdrive-borgwarner-acquired-by-turntide/
08.06.2021 14:16