University Funding Drives Business’ Expansion (www.insidermedia.com)
[This story shows cooperation among businesses and academia which in itself is always a good thing. However, the article points to a interesting development for Morgans, e.g. the potential of a factory implemented automatic gearbox. Factory implemented and supported ‘auto-boxes’ are available on the BMW powered Plus 8s and the Aero 8s, but are available only in the after market for the ‘traditional’ cars. (Not that I have ever seen one?)
This may mean we will soon see the MMC announce an optional ‘auto-box’ for the traditional cars. This would be viable way to make the cars quicker and more fuel efficient. Let’s see what get announced in March in Geneva! Mark]
The University of Derby has awarded a Leicestershire automotive business almost £100,000 to expand and make new international relationships.
Vitesse Global provides specialist engine, gearbox and ancillary components to a niche market in the automotive sector.
The business, based in Hinckley, is aiming to use the £97,650 to exploit a gap in the market where British sports car manufacturers do not offer automatic gear boxes to buyers.
Morgan Motor Company had said it was keen to work with Vitesse Global to produce an automatic gearbox, but it needed support.
The funding from the university, which comprised of a grant of £65,000 and the remainder as a loan, has covered the costs of the mechanical design and software development, leading to the development of the final product.
Vitesse Global’s new product has now been sold in Dubai, France, the UK and New Zealand.
The company’s managing director Tim Henderson said: “We saw there was a market, and we knew there was a demand, but we did not have sufficient investment capacity on our own.
“We saw Invest to Grow as the stepping stone, providing us with the time and input required to deliver the product.”
Invest to Grow has also enabled the business to employ three new staff members, with the hope to employ more, and increased its capacity for innovation and research and development.
Mark Wheddon, head of strategic programmes at the university, said: “We are pleased to support Vitesse Global with the expansion of their business that has led to new international relationships being created.
“The business has a lot to offer and we can expect great things from them in the upcoming months.”