Motor manufacturer YASA's new Oxford, UK, production facility was officially opened by the Secretary of State for Business, Energy and Industrial Strategy, the Rt Hon Greg Clark MP. The opening follows the signing of long-term development and supply agreements with customers in the automotive sector and a further investment of £15 million in growth funding for the company. Universal Partners joined Parkwalk Advisors and other existing investors in the round, bringing the total raised by the company to £35 million.
The Business Secretary Greg Clark MP said, "YASA is a brilliant example of what can be achieved when government, academia and industry come together to turn the best ideas from the best minds into scale-up companies."
A range of YASA-powered vehicles were on display at the event, including cars from Nissan, Jaguar Land Rover and Williams Advanced Engineering.
YASA's innovative axial-flux electric motor design offers best-in-class power and torque densities and is ideally suited to both hybrid and pure electric vehicle applications. With YASA's technology, automotive manufacturers have greater design flexibility to improve vehicle performance whilst reducing vehicle weight. YASA has said it will build up to 100,000 motors for hybrid and electric vehicles each year at the facility.
YASA motors and controllers enable automotive manufacturers to meet increasingly stringent emissions targets whilst delivering exciting driving experiences. In addition to automotive, YASA motors are used in marine applications and in aerospace where high power density and torque density are critical.
Dr. Chris Harris, YASA's CEO said, "Our customers are looking to adopt innovative new technologies such as YASA's axial-flux electric motors and controllers in order to meet the needs of the rapidly expanding hybrid and pure electric automotive market. This additional £15 million in growth funding will enable YASA to further invest in the volume production capacity necessary to meet our customers' requirements, and to address markets beyond automotive including aerospace and marine."
Andrew Birrell of Universal Partners - who joins YASA's board - said, "YASA has unique and highly differentiated axial-flux motor technology that offers clear advantages in terms of power and torque density compared to their competition in class. We are pleased to have the opportunity to invest and are very excited by the prospects for the Company."
Alastair Kilgour, Chief Investment Officer at Parkwalk Advisors said, "YASA has made excellent commercial progress over the past two years and we are pleased to continue to support the Company in this latest financing round. With the rapid growth of electrification in automotive and other sectors such as aerospace and marine, we believe YASA has huge business potential."
Source and top image: YASA
Learn more at the next leading events on the topic:
Business and Technology Insight Forum - Cambridge December 2018 on 4 - 6 Dec 2018 at Cambridge, UK
or Electric Vehicles: Everything is Changing Europe 2019 on 10 - 11 Apr 2019 at Estrel Convention Center, Berlin, Germanyhosted by IDTechEx.