Sevcon is a world leader in the design and manufacture of microprocessor-based controls for zero emission electric vehicles. The controls are used to vary the speed and movement of vehicles, to integrate specialized functions, and to optimize the energy consumption of the vehicle’s power source. With the acquisition of italian based Bassi, Sevcons product line has been expanded by modern fast charging systems for batteries. The company supplies customers throughout the world from its operations in the US, the UK, France and the Asia Pacific region and through an international dealer network. Sevcon’s customers are manufacturers of on- and off-road vehicles including cars, trucks, buses, motorcycles, fork-lift trucks, aerial lifts, mining vehicles, airport tractors, sweepers and other electrically powered vehicles.
Sevcon’s revenue growth is being driven by strong sales of the innovative Gen4 motor controls range that the company has developed for on-road electric vehicles. This growth demonstrates that automotive OEMs and tier-one suppliers increasingly recognize that the technology Sevcon has developed for off-road EV applications during the past 50 years can improve vehicle efficiency and performance in on-road applications, as well. The world’s growing demand for on-road EVs is an opportunity that has the potential to transform and dramatically increase the scale of Sevcon’s business in the years ahead. The company is successfully executing on a strategy aimed at capitalizing on this opportunity.
Sevcon, Inc. (NASDAQ: SEV)
3:59 PM ET on May 26, 2017