Innovate UK funding helps sustainable vehicle component supplier launch product and grow their business in the North East of England.
Ryan Maughan left a career building racing cars to set up a business that could make a difference. He founded AVID Technology in 2004 to improve air quality by making vehicles more efficient.
AVID design and develop powertrain components - the parts of vehicles that generate and deliver power to the road - specialising in electric and hybrid technology. Sales are set to increase over the next few years as automotive companies pursue greener products.
AVID produce traction motors, electric cooling pumps, cooling fans and other electronic devices used in the vehicle drivetrain - all essential on electric and hybrid vehicles. They also manufacture components to improve the efficiency of conventional vehicles.
Rapid expansion
AVID now has the knowledge, experience and the products to develop into a tier one supplier of more efficient vehicle components.
Turnover is expected to more than double this year along with staff numbers significantly increasing from the 60 currently employed at its Newcastle base. And with further demand coming from aerospace and robotic companies, Ryan Maughan is convinced the future’s bright for AVID:
"We’re seeing huge demand in the market for our experience, knowhow and IP. That’s allowing us to launch new products and win a lot of new business with global vehicle manufacturers. AVID will grow from being a SME into a significant tier one supplier, specifically of powertrain technology for electric and hybrid vehicles, in the future."
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AVID: saving fuel and reducing emissions from vehicles (ISCF - Mobility / Clean Growth) |
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| Science & Technology | Upload TimePublished on 6 Sep 2017 |
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