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transportation UK

Silicon Valley firm buys into EV market with buy-out of UK companies

Mon, 06/14/2021 - 12:16 -- paul Crompton
Silicon Valley firm buys into EV market with buy-out of UK companies

Silicon Valley electric motor maker Turntide Technologies has moved into the commercial transportation industry after buying two UK firms.

The firm’s division, Turntide Transport, is set to buy battery pack maker Hyperdrive Innovation and BorgWarner Gateshead, the electric drivetrain division of BorgWarner. 

Turntide Transport will establish operations in Gateshead, England, marking the beginning of a multi-year £100 million ($141.6 million) investment in the region.

Financial terms of the deals were not disclosed.

The Turntide Transport division will initially target electromechanical systems in commercial and industrial vehicles, rail, marine and aerospace. 

The acquisition of Hyperdrive Innovation will allow Turntide to include energy storage in its solutions..  

The acquisition of BorgWarner Gateshead Technical Center will allow Turntide to focus on motor controllers and other devices that determine the motion of electric vehicles. 

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