Evtec Aluminium Limited, a leader in designing and manufacturing complex aluminium castings, has reportedly entered into a supply contract with Jaguar Land Rover. According to the deal, the former will supply automotive components to Jaguar for its new line of electric vehicles.
Evtec is a world-class manufacturer of lightweight aluminium parts for electric vehicles and luxury automobiles. For Jaguar, it will be a single-source supplier for key components, generating over $67 million in its auto part sales.
Jaguar’s new line of luxury electric vehicles will include a four-door GT model and a luxury sedan that is expected to have a range of over 435 miles and are capable of fast charging 200 miles in about 15 minutes.
On signing the contract with Jaguar, Evtec chairman David Roberts said, “We are delighted to be a crucial supply partner in the transition to all-electric by JLR and to further extend our reach around the EV power pack and supporting architecture supply chain with them. We see JLR as a unique business, representing the very best in advanced design and technology in the global luxury automotive market. This new business marks a key step forward in ensuring that OEMs have a reliable supply chain that can scale and meet the demands of the very best car makers in the world. Evtec competencies continue to grow in the light weighting programs demanded by OEMs as they move to aluminium based platforms and components.”
Blackboxstocks, which will acquire Evtec Aluminium by the first quarter of 2024, commented: “We are very pleased to see the growing order book for Evtec as we work toward completion of this merger. We feel this merger will provide significant shareholder value while we continue to operate the fintech operations of Blackbox in parallel with this new business combination.”
Evtec, known as one of the world’s most advanced aluminium castings and machining manufacturers, supplies strategic auto parts on powertrains as well as structural parts to premium Original Equipment Makers (OEMs) from its facilities in the United Kingdom.
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