Trackwise shares surge on order from EV maker

The AIM-traded firm said the initial order, in support of start of vehicle production, worth around £0.6m, followed successful funded development activities last year for the UK-based designer and manufacturer of electric vehicles.

It said IHT was being used for both HV and LV circuits in the vehicles' batteries, reducing the part count, assembly time, and saving on space and weight.

“The electric vehicle industry is one of a number of growth markets for Trackwise, and we are delighted to have been selected by an innovator in the field,” said chief executive officer Philip Johnston.

“Following successful development work last year, we are pleased to receive our first start of production order for IHT, the next step towards series production of IHT at scale.”

At 1452 GMT, shares in Trackwise Designs were up 20.22% at 110p.