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Sevcon accelerates sales and secures major contract

Wednesday, February 4, 2015

Gateshead-based Sevcon, which manufactures electric vehicle components, has won a major contract in Germany after increasing its turnover.

For the three months end 3 January 2015, the company reported a revenue rise of 10 per cent to $9.9m (£6.5m) from $9m (£5.9m) the same period the year before.

While profits fell from $710,000 (£468,000) to $282,000 (£186,000), this has been attributed to the manufacturer making a large investment in sales and engineering after a number of major contract wins.

The most recent of these contract wins is with a German truck and bus manufacturer, which is the company's third major on-road win in the last 90 days.

The contract will involve Sevcon developing and supplying controllers for a new line of integrated starter generators, the "key component" in a new system being developed for heavy trucks and buses in Europe.

The development will take two years and will be partially funded by the customer.

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Sources: Insider Media LimitedThe Journal

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