Magnetic Systems Technology
Magnetic Systems Technology (Magtec) is a Sheffield-based designer and manufacturer of electric drive systems and complete EVs for UK commercial-vehicle fleets, including refuse, logistics, rail, and defence applications, with over 90% of components made in-house at its Rotherham facility.
- Company typePrivate
- Founded1992
- HeadquartersSheffield, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Magnetic Systems Technology does
Magnetic Systems Technology (Magtec) is a UK-based designer and manufacturer of electric drive systems and complete electric vehicles, founded in 1992 and headquartered in Sheffield with primary manufacturing in a 65,000 sq ft facility in Rotherham. The company specializes in heavy-duty commercial applications, serving refuse-vehicle fleets, logistics operators, rail, and defence customers. Its product portfolio spans the MEV75 and MEV190 electric drive systems, the MAGPAC battery pack, the MEV180 chassis, and Magtec Telematics for fleet monitoring, alongside a dedicated rail-repowering offering and defence hybrid-systems programme (British Army TD6).
Magtec manufactures more than 90% of its components in-house and operates at the system level rather than as a component supplier, integrating motors, controllers, battery management, and software. The core business model is project- and contract-based: the company sells or leases electric drivetrains and repowers existing diesel chassis (notably refuse-collection vehicles), with 200+ repowers delivered in 2024 and a stated manufacturing target of 5,000+ traction motor/controller units annually at scale. Customer revenue is concentrated in UK public-sector fleet operators (multiple councils, NHS Wales), logistics firms (Royal Mail, Nordic Logistics, ETRUX, Tootbus), OEMs (Dennis Eagle), defence (British Army), and rail (Angel Trains). Capital structure has been supported by multiple Advanced Propulsion Centre (APC) grants (£5m in 2020, £2m in 2022, £800k in 2025) and earlier seed funding, with the company self-describing as the UK's largest supplier of electric drive systems and specialist hybrid solutions for commercial vehicles.
Magnetic Systems Technology firmographics
Firmographics- Name
- Magnetic Systems Technology
- Legal name
- Magnetic Systems Technology Limited
- Website
- https://magtec.co.uk
- Company type
- Private
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Magnetic Systems Technology (Magtec) is a Sheffield-based designer and manufacturer of electric drive systems and complete EVs for UK commercial-vehicle fleets, including refuse, logistics, rail, and defence applications, with over 90% of components made in-house at its Rotherham facility.
- Ownership category
- akta.pro rank
Magnetic Systems Technology industry classification
Industry- Product category
- Electric Vehicle Drive Systems
- NAICS
- Motor and Generator Manufacturing (335312), Electrical Equipment Manufacturing (33531)
- SIC
- Motors & Generators (3621), Electrical Industrial Apparatus (3620)
- akta.pro primary industry
- Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK)
- akta.pro secondary industries
- Battery Pack & Module Manufacturing (EV) (IMACACAA), Power Electronics Manufacturing (Inverters/DC-DC/Onboard Chargers) (IMACACAD), EV Retrofit & Electrification Conversions (Fleet/Commercial) (TLAKAMAK)
Keywords
Where Magnetic Systems Technology is headquartered
LocationHeadquarters
- HQ city
- Sheffield
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Magnetic Systems Technology business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales
Revenue model
- Electric Drive System Sales: Sale of complete electric drive systems to OEMs and fleet operators including traction motors, controllers, battery systems, and integration software.
- Complete Vehicle Sales: Sale of complete branded electric vehicles including MEV75 7.5T and MEV190 19T trucks to customers.
- EV Repowering Services: Conversion of existing diesel vehicles to electric through installation of Magtec drive systems. Cost less than half of new EV purchase, extending vehicle life by up to 15 years.
- Aftermarket Support: Dedicated service team providing ongoing support through service partners. Includes maintenance, diagnostics, and parts.
- Grant-Funded R&D: Government-funded research projects through APC and Innovate UK for developing and scaling manufacturing capabilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | MEV190 19-tonne Electric Truck - full vehicle with specifications |
| One time/ perpetual license | Multi-year contract | MEV75 7.5-tonne Electric Truck |
| One time/ perpetual license | Multi-year contract | EV Repowering Service |
| One time/ perpetual license | Multi-year contract | Second-Life Vehicle Upgrades |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels8 records
Magnetic Systems Technology product offering
Product offeringCore offering
Magnetic Systems Technology (Magtec) designs, develops, manufactures, and integrates electric drive systems and components for commercial heavy goods vehicles, buses, off-road defence vehicles, rail rolling stock, and bespoke specialist vehicles. The company also offers complete branded electric trucks (MEV75 and MEV190) and converts existing diesel fleets to electric through its repowering service. Over 90% of components are manufactured in-house at its Rotherham facility, with aftermarket support delivered through a dedicated service team and partner network.
Product overview
Magnetic Systems Technology (Magtec) is a UK-based designer and manufacturer of electric vehicle drive systems and complete EVs, operating as a unified portfolio of proprietary technologies. The core offering comprises electric drivetrain systems (motors, controllers, power electronics, battery management) integrated into finished vehicles or provided as repower solutions. Key products include the MEV75 7.5-tonne and MEV190 19-tonne electric trucks, the MAGPAC lithium-ion battery pack, Magtec Telematics for remote diagnostics, and rail repowering solutions. The company provides both first-build electric vehicles and converts existing diesel fleets through its repowering service, supported by the MAGTEC Assist aftermarket support program. With over 30 years of expertise, Magtec serves commercial vehicles, rail, and defence sectors, designing and manufacturing approximately 90% of components in-house at its Rotherham facility.
Differentiator
Problem solved
Functional benefit
Brands
- MAGTEC Assist: Electric vehicle assistance and support services
- MAGPAC Battery
- MEV75
- MEV190
- MEV180
Products and services
- MEV75 7.5-Tonne Electric Truck 7.5-tonne type-approved electric truck for daily urban operations including waste clearance, last-mile logistics, and refrigerated deliveries, with up to 100km range, 4-hour charge time, and 10-year lifecycle. Second-generation version launched October 2024 with CCS2 fast charging, digital instrument cluster, and self-regulating HVAC.
- MEV190 19-Tonne Electric Truck 19-tonne high-performance type-approved electric truck designed for last-mile logistics and inter-urban applications, featuring 600V DC system with 200kW peak permanent-magnet motor, integrated single-speed planetary reduction gearbox, five modular 60kWh battery packs (300kWh total), CCS2 charging up to 100kW, and up to 125 miles range.
- MAGPAC Battery System Next-generation lithium-ion battery pack with built-in Battery Management System (BMS) designed for specialist automotive and industrial applications including construction and agriculture sectors.
- Electric Drive Systems Proprietary electric drivetrain technology including traction motors, controllers, power electronics, battery management systems, and integration software for vehicles above 7.5 tonnes in commercial, rail, and defence sectors. Supplied to OEMs as standalone drive systems for integration into new vehicles.
- Rail Repowering Solution Hybrid and full battery-electric drivetrain solutions for repowering existing diesel rail rolling stock, offered as either battery-electric or hybrid electric-diesel configurations with regenerative braking. Designed, manufactured, and supported entirely in the UK.
- EV Repower Solutions Bespoke turnkey EV repowering solutions converting existing diesel vehicles including buses, refuse collection vehicles, and HGVs up to 27 tonnes to electric power, extending vehicle service life by up to 15 years at less than half the cost of new EV purchase.
- MAGTEC Assist Aftermarket Support Dedicated aftermarket support service providing maintenance, diagnostics, and technical assistance for Magtec electric drive systems through a service team and associated partners across the UK.
Quantifiable outcome
- 2.5+ million miles accumulated on vehicles using Magtec technology
- +7 more outcomes
Companies that use Magnetic Systems Technology
Customer profileNamed customers12 records
Segments6 records
Ideal customer profiles5 records
Magnetic Systems Technology technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Magnetic Systems Technology partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core and minor.
- Royal MailcoreTrial of two 19-tonne electric trucks with £800,000 grant from APC/DBT/Innovate UK. Supports expansion of UK's largest electric delivery fleet. Results will inform broader fleet electrification.
- British Army / Ministry of DefencecoreTD6 programme for battlefield electrification. Magtec provides hybrid drive systems for Foxhound, Jackal, and MAN support vehicles. Defence Secretary visited facility in 2024.
- JacobscoreSystems engineering support for TD6 hybrid vehicle programme. Jacobs introduced Magtec as key supplier to the British Army electrification project.
- UTAC MillbrookminorProving ground facility where British Army TD6 vehicle testing and trials are conducted.
- Dennis EaglecoreMajor UK RCV OEM. Magtec delivered 100th EV drive system for Dennis Eagle's eRCV. Ongoing OEM supply relationship for refuse collection vehicle electrification.
- Angel TrainsminorConsortium partner in APC-funded research project for rail repowering technology development.
- Manufacturing Technology Centre (MTC)minorConsortium partner in digital manufacturing project for scale-up of traction motor production.
- University of Sheffield AMRCminorConsortium partner for advanced manufacturing research supporting Magtec's production scale-up.
- TootbuscoreTechnology partner for zero-emission electric bus fleet. 15 repowered buses operating in London and Bath. Nominated for Route One Awards 2025 Sustainability.
- NHS WalesminorGroundbreaking project to promote zero-emission HGVs in healthcare logistics. Partnership with subcontractors including Dynamon.
- AMTE PowerminorBattery cell supplier for ULTRA project developing high-power, high-energy lithium-ion batteries for automotive applications.
- ETRUXcoreAdvanced manufacturer and commercial vehicle specialist. Placed multi-million pound order for MEV75 7.5-tonne electric trucks.
- Nottingham City CouncilminorCustomer for second-generation MEV75 for waste management operations. Part of city's carbon-neutral by 2028 plan.
- Islington CouncilcoreFleet electrification partner with multiple MEV75 vehicles. Second-life upgrades at under £10,000 per vehicle. Fleet target of 100% electric by 2030.
- Rheinmetall BAE Systems Land (MAN SV)minorVehicle manufacturer partner for TD6 hybrid vehicle programme with MAN support vehicle.
- General DynamicsminorVehicle manufacturer partner for TD6 programme with Foxhound hybrid vehicle.
- SupacatminorVehicle manufacturer partner for TD6 programme with Jackal hybrid vehicle.
Scale indicators17 records
Recent moves9 records
Expansion highlights6 records
Magnetic Systems Technology competitors and assessment
Company assessmentDirect peers
- Equipmake: Equipmake is a UK-based designer and manufacturer of electric powertrains for commercial vehicles, buses, and heavy-duty applications. Directly comparable to Magtec as both companies produce in-house EV drivetrains (motors, inverters, battery integration) for commercial vehicle OEMs and repowering projects in the UK.
- Tevva Motors: Tevva is a UK-based manufacturer of medium-duty (7.5T-19T) battery-electric and hydrogen-electric trucks targeting logistics and fleet operators. Directly overlaps with Magtec's MEV75 and MEV190 product range and customer base (UK commercial fleets, Royal Mail, distribution operators).
- Volta Trucks: Volta Trucks designed and manufactured all-electric medium-duty trucks (16T) for urban logistics fleets. Comparable to Magtec in the UK commercial EV truck market, although Volta entered administration in 2023, illustrating the capital intensity needed to scale commercial EV production.
- Arrival: Arrival was a UK-based EV manufacturer building electric vans, buses, and vehicles for commercial applications. Comparable as a fellow UK/EU EV startup operating in commercial vehicle electrification, though Arrival pursued light commercial vehicles rather than the >7.5T segment Magtec targets.
- Switch Mobility: Switch Mobility (subsidiary of Ashok Leyland) designs and manufactures electric buses and light commercial vehicles, with UK operations inherited from the former Optare. Comparable as a UK-based commercial EV OEM targeting fleet operators in passenger transport and logistics, similar customer profile to Magtec's bus and truck customers.
- Wrightbus: Wrightbus is a Northern Ireland-based bus manufacturer (and Magtec customer via Tootbus) producing zero-emission battery and hydrogen buses. Comparable as a UK/EU commercial EV player serving the same bus-fleet electrification market and even uses Magtec drivetrains in some applications.
Broad incumbents
- Daimler Truck: Daimler Truck is a global incumbent in commercial vehicles (Mercedes-Benz, Freightliner, Fuso) with an expanding battery-electric truck portfolio. Comparable as a broader commercial vehicle player that competes with Magtec's OEM customers and could vertically integrate its own drivetrains, displacing Magtec as a Tier 1 supplier.
- Volvo Trucks: Volvo Trucks is a global commercial vehicle OEM with the leading heavy-duty electric truck lineup (up to 44T). Comparable as a broad incumbent in commercial EV; Volvo's vertical integration of drivetrains poses competitive risk to Magtec's OEM-supply model.
- Cummins: Cummins is a global manufacturer of diesel and alternative-fuel powertrains now offering fully electric and hydrogen drivetrains for commercial vehicles and buses. Comparable as a broad incumbent powertrain supplier with much greater scale and capital depth than Magtec in the same end markets.
Emerging players
- YASA: YASA (a Mercedes-Benz AG subsidiary) is a UK-based manufacturer of axial-flux electric motors serving automotive and commercial vehicle applications. Comparable as a UK-based electric-motor specialist with overlapping drivetrain technology, though YASA focuses on high-performance passenger and luxury EV motors rather than commercial trucks.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Magnetic Systems Technology social profiles
Digital presenceMagnetic Systems Technology financial estimates
Financial estimateRevenue estimate
Valuation estimate
Magnetic Systems Technology leadership team
Management profileNumber of profiles
Profiles9 records
Magnetic Systems Technology funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Magnetic Systems Technology M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Magnetic Systems Technology
What does Magnetic Systems Technology do?
Magnetic Systems Technology (Magtec) designs, develops, manufactures, and integrates electric drive systems and components for commercial heavy goods vehicles, buses, off-road defence vehicles, rail rolling stock, and bespoke specialist vehicles. The company also offers complete branded electric trucks (MEV75 and MEV190) and converts existing diesel fleets to electric through its repowering service. Over 90% of components are manufactured in-house at its Rotherham facility, with aftermarket support delivered through a dedicated service team and partner network.
Is Magnetic Systems Technology a public or private company?
Magnetic Systems Technology is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Magnetic Systems Technology founded?
Magnetic Systems Technology was founded in 1992. It employs 51 to 100 people.
Where is Magnetic Systems Technology based?
Magnetic Systems Technology is headquartered in Sheffield, United Kingdom, in the Europe region.
How does Magnetic Systems Technology make money?
Five revenue lines are on record. Electric Drive System Sales are the primary driver. The others are complete Vehicle Sales, EV Repowering Services, aftermarket Support and grant-Funded R&D.
Who are Magnetic Systems Technology's main competitors?
Direct peers on record are Equipmake, Tevva Motors, Volta Trucks, Arrival, Switch Mobility and Wrightbus. Broad incumbents are Daimler Truck, Volvo Trucks and Cummins. YASA is listed as an emerging player.
Does Magnetic Systems Technology have an API?
No public API is recorded for Magnetic Systems Technology.
What industry is Magnetic Systems Technology in?
Magnetic Systems Technology's product category is Electric Vehicle Drive Systems. Its primary akta.pro industry code is IMACABAK, Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells), with a secondary code of IMACACAA, Battery Pack & Module Manufacturing (EV). Its NAICS code is 335312 and its SIC code is 3621.