Published: June 2, 2026 at 2:15 pm
A former CEO of Aston Martin has saved a British EV firm from administration.
Palmer Energy Technology, a UK clean energy and battery technology group led by Andy Palmer, has acquired the business and assets of Kleandrive as a going concern through administration.
Kleandrive specialises in the conversion of traditional diesel vehicles and replacing them with electric drivetrains. The acquisition preserves a specialist British engineering capability in heavy vehicle decarbonisation.
PETL is one of the UK’s leading developers of battery and battery management system technology, including through its wholly owned subsidiary Brill Power, a University of Oxford spinout it acquired last year.