Saietta Group PLC with ticker (LON:SED) now has a potential upside of 82.2% according to Canaccord Genuity.
Canaccord Genuity recently set a target price of 120 GBX for the company, which when compared to the Saietta Group PLC share price of 21 GBX at opening today (20/03/2023) indicates a potential upside of 82.2%. Trading has ranged between 20 (52 week low) and 196 (52 week high) with an average of 937,508 shares exchanging hands daily. The market capitalisation at the time of writing is £21,307,853.
However, today the company announced its first set of commercial agreements with one of the largest OEMs in the Indian light-duty mobility market.
The supply chain involves agreements with major tier-1 companies in the region for the key components including the gear box and power electronics. This includes a master supply agreement with AVTEC Limited, one of the largest independent manufacturers of powertrain and precision-engineered products in India.
The relationship brings together AVTEC’s transmissions with Saietta’s motors and inverters, both to be made in India, to deliver class-leading eDrives for 3- and 4-wheel lightweight vehicles. In addition to the master supply agreement there is a common desire for both, Saietta and AVTEC to not only supply the initial confirmed OEM customer but also jointly promote the combined eDrive technology to other existing and prospective clients, tailoring the core eDrive design to meet the precise requirements of additional individual OEMs in India and beyond.
Saietta Group Plc (Saietta) is a United Kingdom-based company that has developed the axial flux traction (AFT) electric motor. The Company is principally engaged in providing electric drive solutions, including the manufacture of prototype and production electric motors for vehicles. The Company also specializes in propulsion motors for a range of electric vehicles (EVs) and has engineered patent-protected, axial-flux motor tech. The Company’s AFT motor is an electric propulsion motor, which is intended to provide a platform for both high and low voltage electric motor solutions, that can power a variety of electric vehicles ranging from scooters, motorbikes, cars, marine engines through to larger vehicles such as electric buses. Saietta provides end-to-end turnkey engineering services to original equipment manufacturers (OEMs) from market research and product definition, computer-aided engineering (CAE) and simulation, e-motor electrical and mechanical integration.
