AN electric vehicle parts maker has “added the final piece to its jigsaw” and secured scores of North-East jobs in a £10m-plus Italian deal.

Sevcon has taken on battery charger producer, Bassi, to strengthen its international standing.

The company, based in Gateshead, says the move will allow it to increase its hold on the electric vehicle market, sell equipment to more customers and use Bassi's technology to enhance new controllers.

Under the terms of the deal, Bassi’s senior team will continue managing the business, based near Bologna, as a division of Sevcon.

Matt Boyle, Sevcon, president and chief executive, told The Northern Echo the agreement represents another growth milestone for the company, which is known for making controllers for the Renault Twizy and parts for Brammo motorcycles.

He also said the deal will strengthen Sevcon’s Gateshead base, where it employs about half of its 144-strong workforce across a number of highly-skilled roles.

He said: “We’ve known Bassi for a very long time and have a very similar customer base.

“But they aren’t doing anything on the road (like we are), and it’s a cracking deal from our point of view.

“This is the next step in our evolution and helps our goal to grow and become the one-stop shop for all electric or hybrid needs.

“The good thing about the Bassi deal is that because we are complementary, we are not stealing from our customer base.

“This is a really good acquisition; Bassi are a wonderful company with a great skills set, and it’s good for the North-East too.

“Growing the business internationally helps support local jobs.

“This is the last piece in the jigsaw puzzle.”

Mr Boyle said Bassi will offer Sevcon a neat solution as it seeks to cater for all customers’ demands.

The company previously revealed an agreement to supply controllers to a German company for starter generators on start-and-stop systems for trucks and buses, and has moved further into tractor machinery, to take advantage of the change from electric motors to hydraulic pumps.

He added: “Battery charging and power management represent a rapidly growing sector of the electrification market that is highly complementary to our products.

“Customers regularly ask for charging solutions in conjunction with our new Gen5 motor controller line and Bassi has technology that offers an attractive integration opportunity with the Gen5.

“By offering customers a broader portfolio, we can secure a greater share of the on-road and industrial electrification markets.”

The deal includes £7.5m in cash and 500,000 shares and was funded with cash provided under a five-year term loan facility by the New York City branch of the Italian bank Monte dei Paschi di Siena.