Friday April 20 2018

Jobs boost for AVID Technology after multimillion-pound growth

Award-winning North East-based automotive clean-tech firm AVID Technology Group has increased its headcount after a series of major contract wins and securing over £50 million in new business.

Jobs boost for AVID Technology after multimillion-pound growth

The Cramlington-based pioneer in vehicle electrification, design and manufacture has increased its workforce to 64 by taking on a further ten members of staff since January.

The new appointments span all departments with a particular focus on project management, engineering, production, testing, software and electric motor design.

AVID Technology specialises in the design, validation and manufacture of high-integrity electronics, ancillary components and electric motors for vehicle electrification and hybridisation. The company’s project pipeline has more than doubled in 12 months with annualised sales now in excess of £240 million.

The company is also seeking to fill a number of graduate roles set to start in the summer and predicts it will need to bring in more staff later this year to facilitate growing demand for its technology in the robotics and aerospace industries.

Ryan Maughan, AVID Managing Director, said: “Since the start of the year we’ve experienced a significant increase in new business both in the passenger and commercial vehicle industries internationally and the robotics and aerospace sectors which we began targeting in 2017.

“During the past few years our staff numbers have grown at a steady rate year-on-year, from an average of 14 in 2014 to 64 this month. We expect this number to increase significantly throughout the rest of 2018. This is an exciting time to join the team, as a young company we are focused on growth and breaking new ground.

“Our ability to support customer programs from prototype development to series production is demonstrated through our growing global customer base. Climate change, urban air quality and the rising cost of energy are major issues of our time.

“The energy consumption and exhaust emissions from vehicles and transport are major contributors to these issues. Everyone at AVID is committed to delivering a cleaner, greener future through the design and delivery of world-leading, energy efficient, electrified powertrain and propulsion technology.”

AVID has been advocating vehicle electrification to improve air quality and reduce climate change for 12 years.

Its reputation as one of the most advanced and skilled businesses in the electric vehicle sector led to the company being selected to work on a £20 million government-funded clean-tech environmental project in 2017.

The project is aimed specifically at increasing the number of hybrid vans and lorries on UK roads in order to reduce damaging vehicle emissions and improve air quality.

In February this year, the company was named a potential tech ‘Unicorn’ by international investment group GP Bullhound. By being included in the list, GP Bullhound says AVID has the potential to follow the likes of Uber, AirBnB and Spotify to massive growth, which could one day be valued at over $1bn.

The company was also presented with the North East Automotive Alliance (NEAA) ‘Scale Up Business of the Year’ award and a ‘Trade and Investment’ award in February.

To find out more about AVID Technology go to: https://avidtp.com/.

"Since the start of the year weve experienced a significant increase in new business both in the passenger and commercial vehicle industries internationally and the robotics and aerospace sectors."
Ryan Maughan, AVID MD

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