SED.L Share News (SED)

UK shareholder meetings calendar - next 7 days

IN BRIEF: Saietta and HCLTech to co-develop vehicle control unit

Saietta Group PLC - Bicester, England-based engineering firm - Announces that alongside technology company HCLTech, it will co-develop cost-effective vehicle control unit for lightweight electric vehicles in Asia. Saietta says that the vehicle control unit, alias VCU, "acts as the 'brain' of the vehicle" which ensures that key operating systems perform efficiently for a smooth driving experience. Saietta says it completed the development of an "all-new" VCU. It will be manufactured in India by Saietta VNA, a joint venture between Saietta and Padmini VNA Mechatronics Ltd, an automotive component manufacturer. First deliveries are expected to start in the fourth quarter of this year. "The partnership with HCLTech will enable the end-to-end development of a scalable, modular, safe and secure VCU architecture for LEVs, optimizing their operation and multiple other critical vehicle functions," Saietta says.

TRADING UPDATES: MaxCyte strikes deal; Barkby sells Workshop

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Saietta shares surge on extended agreement with Indian manufacturer

(Alliance News) - Saietta Group PLC on Wednesday said that it has signed a deal for a third vehicle line with an existing client in the Indian light-duty mobility market.

EXECUTIVE CHANGES: Wynnstay adds former Waitrose and M&S exec to board

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:

Saietta revenue expectations reinforced with GBP5 million order win

(Alliance News) - Saietta Group PLC's shares surged on Monday after announcing it has received an order for 3,000 electric drive units from existing US customer AYRO Inc.

AIM WINNERS & LOSERS: Saietta surges on GBP5 million contract

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

IN BRIEF: Saietta partners with AVTEC to deliver orders in India

Saietta Group PLC - Bicester, England-based engineering company specialising in electric vehicles - Announces that the Indian automotive powertrain powerhouse AVTEC will be its partner regarding its eDrive system supply chain. Says the partnership will support its commercial deals with an undisclosed customer, who is one of the largest original equipment manufacturers in the Indian light-duty mobility market. Additionally, says the partnership will promote complete eDrive solutions to further automotive customers in India and beyond. The eDrives are optimised for light-duty applications including scooters, motorbikes, rickshaws and urban delivery vehicles. Saietta says production is on track to start in the third quarter of 2023.

Saietta says mass production of eDrive systems to begin later in 2023

(Alliance News) - Saietta Group PLC on Tuesday said the supply chain for its Drive system is now ready, as technical collaboration agreements for key components, including the gear box and power electronics, are also in place with major companies in the Indian market.

Canaccord Genuity slashes target price on Saietta

(Sharecast News) - Analysts at Canaccord Genuity slashed their target price on engineering firm Saietta from 285.0p to 120.0p on Tuesday following the group's operational and trading update earlier in the day.

Saietta revenue drops as losses double; signs first major OEM contract

(Alliance News) - Saietta Group PLC on Tuesday said its interim loss had widened, as revenue also dropped in the first half.

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

IN BRIEF: Saietta raises GBP23.6 million via placing and broker option

Saietta Group PLC - Bicester, England-based engineering company specialising in electric vehicles - Raises additional GBP600,000 via a broker option of 434,783 new shares. The broker option shares will be issued at a price of 138 pence per share.

IN BRIEF: Saietta annual loss widens; signs development contract

Saietta Group PLC - Bicester, England-based engineering company specialising in electric vehicles - For the year ended March 31, pretax loss widens to GBP11.1 million from GBP7.3 million, as a result of rising administrative costs arising from the group expanding its operations and headcount. Sales meanwhile hike to GBP3.6 million from GBP870,966.