£5m boost for electric motor firm
YASA Motors - the Oxfordshire-based firm responsible for developing small, lightweight electric motors - has received £5million of new investment.
The new equity finance has been raised from a combination of existing and new investors. It will be used to increase production capacity and expand the company's commercial activities.
Chris Harris, YASA Motors ceo, commented: "We are naturally delighted at the support shown by our investors, who share our view of the potential for our highly differentiated electric motors.
"The motors are now being integrated into products by an ever increasing number of customers across a range of markets including marine, agriculture, industrial and construction equipment along with automotive and aerospace."
