EVO Electric

Regent Assay advised GKN Driveline on its formation of a joint venture with EVO Electric, which provides electric drive motors for the automotive industry. The new business, GKN EVO eDrive Systems, will manufacture and sell axial flux electric motors and drive systems for use in hybrid and all-electric vehicles. GKN’s total investment value at closing was £5m consideration in cash and as part of the deal, GKN also acquired a 25.1% of EVO Electric.

Nigel Stein, CEO of GKN Driveline said:

“This strategic addition will enhance GKN Driveline’s ability to meet its customers’ needs in drivetrain electrification. It is aligned with our strategy of supporting vehicle manufacturers as they search for fuel savings and reduced CO2 emissions through hybrid and electric drive vehicles.”