The company put itself up for sale in February, but no offer with enough capital were received
Innovative British electric motor developer Saietta has gone into administration after running into cashflow problems. The Silverstone-based company built lightweight axial flux traction motors aimed at smaller electric vehicles such as motorbikes and three-wheelers, but was unable to keep itself afloat after backing out of a deal earlier this year to contract manufacture electric steering pumps at its Sunderland plant.
The company had in recent years focused on expansion in the Indian two and three-wheel market via a joint venture with local automotive supplier Padmini VNA. The company said in November it had struck a deal with an unnamed Indian vehicle manufacturer to supply both its axial flux and radial motors for a three-wheeler with production of the vehicle with the axial flux motor starting in October 2024. In 2022 Saietta was handed a £2.
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