Sales have tripled at the Tanfield Group which makes Smith Electric Vehicles over the past year highlighting the growing interest in electric trucks and vans.
Chief executive Darren Kell said pre-tax profit had risen by 310 per cent to £11.9m on sales of £123m in 2007.
The company said its confirmed order book for the remainder of 2008 stood at 523 units and it was expanding production facilities. It had reached an agreement with Ford on the development of commercial electric vehicles and had also come to an agreement to develop and manufacture and electric taxi cab.
“We have strengthened our position as the worldwide leader in commercial electric vehicles and continue to develop our powered access division into one of the leading global players in this sector, said Kell.