Visedo CEO Kimmo Rauma announced the new partnership that will ensure the company’s market-leading technology will power more hybrid and fully electric passenger road vehicles, heavy duty machinery and marine vessels.

Under the agreement Visedo will benefit from TECO’s significant production capacity and ability to service major tender projects worldwide and particularly in Asia. In turn, TECO will have access to Visedo’s unique expertise in developing synchronous reluctance assisted permanent magnet (SRPM) power systems, a technology superior to currently produced powertrains for heavy electric vehicles.

The agreement will also assist Visedo to further develop commercial opportunities across Asia’s emerging markets. This follows Visedo opening a new Hong Kong office last month and signing a letter of intent with VC firm, Beijing Capital Investment, to help the company access China’s booming EV market – already the world’s single largest.

“We believe this agreement with TECO Electric & Machinery Company marks a historic day for Visedo as it allows our superior technology to disrupt the status quo of the current electric power market for heavy electric vehicles.” Visedo CEO Kimmo Rauma said.

“We’re confident that TECO and Visedo can join hands in seizing the regional business opportunities for joint producing and developing electric drivetrain systems with even higher quality for customers, and creating a win-win for both parties in the Asia-Pacific market.” TECO Company Chairperson Sophia Chiu said.