Saietta must go into administration following cashflow issues

The British EV drive manufacturer Saeitta is facing financial issues, and had put itself up for sale in February. So far, no buyers have been however, so the company may be facing its end.

Image: Saietta

As a result of the lack of buyer interest, the company has officially entered Administration, appointing Lucy Winterborne and Dan Hurd to oversee the process.

Saietta had previously been known for building lightweight axial flux traction motors for small electric vehicles such as trikes and motorbikes. About a year ago, Saietta announced a major order from the USA, when the US low-speed electric vehicle manufacturer Ayro ordered 3,000 electric drive systems from Saeitta. Prior to that, Saietta had presented multiple drive concepts at the 2022 IAA in Germany, shortly before which the company had received funding from the government of the UK. In April of 2022, Saietta announced plans to take over the former ZF factory in Sunderland.,


about „Saietta must go into administration following cashflow issues“

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