Gateshead electronic vehicle manufacturer Sevcon reveals £126m sales pipeline

Electronic vehicle manufacturer Sevcon has revealed it is working on a series of projects which could be worth as much as £126m to the Gateshead-based business over the coming years.

One of the projects is a £28m contract with a British supercar company, announced earlier this year, while a second is with a South East Asian tier one supplier, which could be worth up to £35m.

Sevcon is unable to reveal further specifics on the remaining contacts, although President Matt Boyle disclosed that the firm is currently in further talks with one of the four on an additional deal, which could add a further £30m to this pipeline.

Mr Boyle revealed: “We currently have four major projects in our on-road development pipeline, with two expected to go into production in 2017, one in 2019 and one in 2020.

“In total, we expect production revenue to be approximately $166m (£126m) over the five-to-seven-year production lives of the projects, although none is guaranteed.

“We have five major milestones to accomplish on these projects between now and the end of 2017, with the first targeted for the first quarter of 2017.“