17 Dec 2021 07:00
Friday 17 December 2021
Saietta Group plc
("Saietta" or "the Company")
Appointment of Independent Non-Executive Director
Saietta Group plc, the UK company that has developed the innovative, patent protected, AFT electric motor designed for high efficiency electric vehicle drivetrains, is pleased to announce the appointment of Seshu Bhagavathula as an Independent Non-Executive Director, with immediate effect.
Seshu Bhagavathula (62) has over 30 years' experience in the automotive industry and is currently a Non-Executive Director of Swedish electric truck manufacturer, Volta Trucks AB. He is also advising Hong Kong-based investment firm Jebsen Capital on its automotive investments. He currently represents Jebsen on the Board of Cipia, a leader in computer vision AI for driver and cabin sensing technologies.
Earlier in his career, Seshu spent 18 years across a number of roles at Daimler AG, including over 4 years in India where he founded DaimlerChrysler's R&D centre in Bangalore. From 2016, Seshu spent nearly five years at Ashok Leyland, the Indian bus and truck manufacturer, as Chief Technology Officer and then President - New Technologies.
Seshu holds a master's degree in Electronics and Physics from the Indian Institute of Technology - Bombay, and a doctorate in High Frequency Technology from the University of Stuttgart.
Anthony Gott, Chairman of the Saietta Group, said:
"We are pleased that Seshu has agreed to join the Board of Saietta. He brings a wealth of automotive industry knowledge and networks and has a strong track-record in developing new technologies and electric vehicles. He is also extremely well-connected in the Indian automotive industry, one of Saietta's key target markets, including with EV and battery manufacturers. We welcome him to the Board and look forward to working together as we continue to accelerate the commercialisation of Saietta's EV drivetrain products."
Seshu Bhagavathula commented:
"I am delighted to be joining Saietta. I believe the Company has the product and technology to deliver its mission of democratising the EV revolution; a mission which is very close to my heart. I have been very impressed by the team and the progress the Company has made since its commercial product launch just over a year ago. I look forward to being part of the team."
Save as set out below there is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies
Current and past directorships:
Current directorships | Former Directorships within the last 5 years |
Volta Trucks Ltd (Sweden)
Cipia Limited (Israel)
Ascension AI UG (Germany)
QSentience UG (Germany)
| Albonair GmbH (Germany)
Optare Plc
Albonair India Pvt., Limited (India) |
Enquiries:
Saietta Group | via FTI |
Wicher (Vic) Kist, Chief Executive Steven Harrison, Finance Director |
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Canaccord Genuity (Nominated Adviser and Broker) | +44 (0) 207 523 8000 |
Henry Fitzgerald-O'Connor Patrick Dolaghan |
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FTI Consulting (Financial PR advisor) | +44 (0) 20 3727 1000 |
Ben Brewerton Dhruv Soni
| saietta@fticonsulting.com |
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About Saietta:
Saietta is an AIM-quoted, UK electric drive company that has developed the innovative, and patent protected, axial flux technology (AFT) motor, which can power a wide variety of electric vehicles, ranging from scooters, motorbikes, cars, marine engines, through to larger vehicles. Saietta's initial focus is to enable the mass-market electrification of the high-volume motorbike and lightweight vehicle market across Asia. Saietta is democratising the EV revolution with motors capable of delivering high torque density at low voltage, whilst being low-cost, low-maintenance, and highly suitable for mass-market production.