Saietta Group and Consolidated Metco to form a joint venture.

Saietta Group, an engineering company, and Consolidated Metco, a manufacturer and supplier of casting components for the commercial vehicle industry, agreed to form a joint venture to develop two new e-drive product systems, an in-wheel generator and in-wheel motor, to commercial production by 2023 and 2024, respectively. Financial terms were not disclosed. The new products will be aimed at ConMet's existing USA customer base and will also be offered to a number of European OEMs. It is currently anticipated that the in-wheel generator will enter production in 2023 and will utilise Saietta's Sunderland-based Manufacturing Division.