Saietta Group plc (LON:SED), the multi-national business which designs, engineers and manufactures complete electric drivetrain (eDrive) solutions for electric vehicles, has today announced that its Indian joint venture, Saietta VNA, has received a purchase order for supply of complete eDrives from its lead OEM client.
The customer is a global OEM and one of the largest manufacturers of light commercial vehicles (LCVs) in the Indian market. The purchase order covers approximately £420,000 of systems for the first three months of production. However, target volumes indicated by the client for the first year of production is expected to generate revenue for Saietta VNA in excess of £11.2 million.