First signs of the negative consequences that the lack of boom in electric car sales is causing on the automotive world. Saietta, based in Silverstone, has built axial flux traction motors aimed at light electric vehicles, including motorcycles and three-wheelers.
It was due to close a deal for the contract manufacturing of electric steering pumps earlier this year. But the program, which concerned its Sunderland plant, did not materialize and the administrators - to overcome the financial difficulties - had announced that they were willing to put Saietna up for sale.