UK – A year ago, Saietta Group plc of Upper Heyford, UK was fully engaged in making electric powertrain components for two-wheelers and microcars. It had a partner in India and was experiencing sales success with revenues of GBP795,000 for the six months between the end of March and the end of September – up from GBP56,000 in the first half of 2020. In July, the company went public and managed to raise gross proceeds of GBP37.5m by listing on the AIM.¹ It appeared to be entirely committed to the massive market for lightweight two-, three- and four-wheeled electric vehicles in Asia. 

Then, in November of 2021, Saietta made an unexpected move. It acquired e-Traction Europe BV – now Saietta Europe BV – from the ‘new energy vehicle’ subsidiary of Chinese property giant Evergrande. Based in Apeldoorn in the Netherlands, e-Traction was quietly designing and making electric drivetrains for buses, as well as supplying high-voltage power electronics such as inverters and control systems. Their market was entirely different to Saietta’s; yet, a year later, the Dutch engineers are now charging full throttle, on the impetus of Saietta, in designing powertrain components not only for buses but for heavy trucks and trailers.