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Birmingham Post
Birmingham Post
Business
Coreena Ford

North East deals of the week: key contracts, investments and acquisitions

BoT

Hotly-tipped Turntide Technologies - the group bringing together three leading North East firms in the electric vehicle sector - secured $80m in investment to boost its presence in the region.

The company, whose investors include Amazon, Bill Gates and the actor Robert Downey Jr, launched a transportation division last year with an $100m investment that saw it acquire BorgWarner Gateshead, Sunderland’s Hyperdrive Innovation and Northumberland company Avid Technology.

The company specialises in developing powertrains that aim to support electrification efforts by transport companies.

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