Hythe’s HV Wooding targets EV opportunites following £250k investment
Kent-based precision engineering specialist HV Wooding is looking to target a £2 million opportunity in electric vehicles following £250,000 of investment across the last six months.
The investment has been used to create a dedicated manufacturing cell for producing bonded stators and rots along with optimisation of its expanding busbar production capabilities. The new cell has been fitted out with new ovens and benches as well as an AgieCharmilles Cut E 600 wire erosion machine.
These facilities will enable the company to deliver precise and accurate results in metal cutting and shaping, reducing turnaround times in the process and supporting orders to aerospace, automotive and the medical sectors.
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Matt Lacey, Sales and Marketing Manager at HV Wooding, said: “There’s so many opportunities for us in the EV market and this investment gives us the capacity to go after millions of pounds of new work.
“The unit refurbishment, coupled with the new AgieCharmilles wire EDM, will allow us to support our global customer base with the production of prototype and small series production bonded stators and rotors with the best possible lead times.
“Having the additional wire erosion capabilities will also support the highly complex and intricate parts we are increasingly working on, not to mention boosting our capacity for manufacturing bonded stacks.”
“Sales are up about 20% over the last two years, so now is the perfect time to invest in our factory and make sure we position ourselves for the next five to ten years of growth.”
Turnover has risen from £9.9 million in 2020/21 to a projected £12 million for the end of this financial year, with the firm also in the process of recruiting up to ten new people in a variety of roles on the shopfloor and in the offices.
Matt concluded: “UK manufacturing has emerged from the pandemic stronger than before and, despite the challenges around Brexit, we still see lots of opportunities both at home and abroad.
“There is significant interest in electrification as the automotive sector looks to get ahead of the game with the ban on combustion engines in new cars coming into play in 2030 and the energy sector continuing its growth.
“Our precision engineering capabilities are perfect for producing busbars, stators and rotors that will help power the vehicles of the future.”
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