A US-headquartered automotive tech company has signed a 10 year deal for a new technical centre in Warwickshire.
Boston-based ClearMotion, which specialises in ‘proactive suspension’ technology, will open its new location within the MIRA Technology Park.
The centre, which is currently under construction, will equate to a ten-fold increase in floor space from ClearMotion’s initial facility, and will provide modern office, workshop and ancillary facilities, to accommodate its expanding European team. The construction is scheduled for completion in July this year.
The company has doubled in numbers since 2017 and to accommodate the increase, ClearMotion has built out an expanded headquarters.
The growth follows closely behind a January announcement that it secured a $115 million in equity financing, bringing the total amount raised by ClearMotion to nearly $270 million.
“The mobility landscape is changing rapidly with ride quality increasing in importance to automakers, drivers and passengers.” said Shakeel Avadhany, CEO and co-founder of ClearMotion.
“MIRA Technology Park is a major hub for automotive innovation and we are keen to expand our presence there.”
Jack Bartlett, Global Strategic Development for MIRA Technology Park added: “The automotive technology cluster that has developed at MIRA Technology Park has gained a global reputation as a location for automotive R&D in key areas of emerging automotive technology. We’re delighted that such an innovative company that is addressing some of the fundamental issues of autonomous mobility, has chosen us as its platform to grow.
“ClearMotion’s long-term decision to expand at MIRA Technology Park demonstrates how strong the UK – and Midlands’ – reputation is when it comes to the development of new and disruptive automotive technologies.”
Since 2010, MIRA Technology Park has welcomed 38 globally-recognised businesses to the site and has become one of the UK’s top performing Enterprise Zones. It has also recently been awarded the Queen’s Award for Enterprise in the category of ‘International Trade’ for significant growth in international companies setting up on site.