EV manufacturer Equipmake powers ahead with big contracts
Aquis listed Equipmake, the UK-based engineering company, is developing and producing electric engines for a wide range of vehicles.
IGTV caught up with founder and CEO Ian Foley, who still holds a 37% stake in the business. The company has contributed to the world's fastest electric car, and at the same time is providing electric engines for Perkins and in an agreement with Caterpillar to help it move into EVs.
(AI Video Summary)
Equipmake
Equipmake, a UK-based engineering firm specializing in electric engines for various vehicles, has made significant strides since its IPO 18-20 months ago, with noteworthy achievements including powering the world's fastest electric car. CEO Ian Foley highlights the company's focus on the heavy-duty market, developing zero-emission drivetrains with proprietary technology. Key collaborations include projects with Caterpillar, Emergency, and an Australian rocket manufacturer.
Equipmake's profitability
Despite pre-profit status, Equipmake eyes profitability within two years, supported by a recent £4 million fundraising. The company's unique IP and expansion into the North American market, particularly in electric buses, are pivotal to its strategy. Foley addresses the current undervaluation in the stock market, attributing it to general market conditions and expressing confidence in future correction. Equipmake underscores its commitment to contributing to the zero-carbon future through its innovative electrification solutions.
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