1st Sep 2023 22:00
Saietta Group PLC - Bicester, England-based engineering firm - Announces that alongside technology company HCLTech, it will co-develop cost-effective vehicle control unit for lightweight electric vehicles in Asia. Saietta says that the vehicle control unit, alias VCU, "acts as the 'brain' of the vehicle" which ensures that key operating systems perform efficiently for a smooth driving experience. Saietta says it completed the development of an "all-new" VCU. It will be manufactured in India by Saietta VNA, a joint venture between Saietta and Padmini VNA Mechatronics Ltd, an automotive component manufacturer. First deliveries are expected to start in the fourth quarter of this year. "The partnership with HCLTech will enable the end-to-end development of a scalable, modular, safe and secure VCU architecture for LEVs, optimizing their operation and multiple other critical vehicle functions," Saietta says.
Current stock price: 40.21 pence, closed down 3.1% on Friday in London
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By Tom Budszus, Alliance News reporter
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