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Smith Electric Vehicles to Retrench, Revise Planned Expansion to US

Posted on July 02, 2008

Based on supply chain and cost issues, the UK-based Tanfield Group is retrenching its Smith Electric Vehicles (SEV) business. In a trading update published 1 July, in advance of its interim results, the Tanfield Group said that its Directors have made two key strategic decisions based on several factors. First, it will postpone the move to a dedicated electric vehicle production site. The current facility has sufficient capacity headroom for 18 months, the company said.Second, the company is revising its planned expansion in the US. Rather than establish a major production facility in th...

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