UK's Saietta Group surges on new order from existing U.S. customer
03/04/2023 09:03
** Shares of Saietta Group Plc SED.L surge as much as 58%
to 70p, their highest since Dec. 8
** The global maker of light duty and heavy duty eDrive
systems for electric vehicles gets an order for 3,000 eDrive
units from its existing U.S. customer AYRO Inc AYRO.O
** Says order expected to be worth over 5 mln pounds ($6.2
mln) in revenues to co
** Says eDrive units will be produced in the UK at its plant
in Sunderland
** Stock set to post best day ever, if trend holds
** Including session's gains, stock up ~14% YTD
($1 = 0.8119 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))