Blackboxstocks, Inc. Acquisition Target Evtec Aluminium Receives New $67 Million Long Term Supply Contract from Jaguar Land Rover
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The announcement of Evtec's new supply contract with Jaguar Land Rover (JLR) signifies a strategic expansion in the electric vehicle (EV) sector, which is rapidly evolving. The contract's value of over $67 million is a significant addition to Evtec's current order book of $780 million, reflecting the increasing demand for lightweight aluminum parts in the EV industry. The use of aluminum in EVs is a response to the need for efficiency and extended range, as lighter vehicles consume less energy.
From a market perspective, this partnership is likely to enhance Evtec's market position and credibility as a key player in the EV supply chain. The rise in EV adoption rates and stringent environmental regulations are pushing automotive manufacturers to innovate and seek reliable suppliers. Evtec's role in supplying components for JLR's new line of electric vehicles, which boast impressive features such as a range of over 435 miles and rapid charging capabilities, aligns with consumer expectations for high-performance and luxury in the EV market.
For Blackboxstocks Inc., the parent company planning to acquire Evtec, this contract could be a catalyst for positive investor sentiment and potential stock appreciation. The deal not only increases the future revenue stream but also diversifies Blackboxstocks' portfolio into the automotive sector. It is crucial to monitor how the acquisition of Evtec aligns with Blackboxstocks' core business and growth strategy. The deal could potentially lead to synergies and cross-sector opportunities, but careful analysis of integration risks and the impact on Blackbox's financials is necessary.
Investors should consider the long-term implications of this contract, such as the potential for aftermarket sales and model life extensions, which could provide additional revenue beyond the initial $67 million. It is also important to evaluate the contract's terms, duration and Evtec's capacity to meet the production demands, as these factors will influence the financial outcomes of the deal.
The shift towards aluminum-based platforms in the automotive industry is a response to the challenges of reducing vehicle weight to enhance performance and efficiency. Evtec's competencies in lightweight aluminum parts manufacturing are particularly relevant as OEMs (Original Equipment Manufacturers) transition to electric mobility. The partnership with JLR underscores a commitment to advanced design and technology, which is crucial in the luxury automotive market where competition is fierce.
The contract also highlights the importance of a scalable and reliable supply chain, which is a critical factor for OEMs like JLR that are undergoing a transition to all-electric fleets. Evtec's designation as a single-source supplier for key EV powertrain components suggests a high level of trust and strategic alignment between the supplier and JLR. This relationship is expected to contribute to the timely delivery of JLR's new electric vehicles, which is essential for maintaining a competitive edge in the luxury EV segment.
New contract adds to Evtec’s existing order book of
Parts supplied by Evtec to be used in new Jaguar Electric Vehicles to be introduced in 2025
DALLAS, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Blackboxstocks Inc. (NASDAQ: BLBX) (“Blackbox” or the “Company”), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders, announced today that its planned acquisition target Evtec Aluminium Limited, (“Evtec”) has been awarded a long term supply contract from JLR, previously Jaguar Land Rover, to supply parts for a new line of Jaguar electric vehicles.
As a world class manufacturer of lightweight aluminum parts for the EV, luxury and performance automotive market, Evtec has been designated as the new single-source supplier for key components in the EV power train of the new line of electric vehicles being introduced by Jaguar in 2025.
The contract is expected to provide over
Evtec Chairman David Roberts commented: “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.”
Blackbox CEO, Gust Kepler added: “We are pleased about the growing order book at Evtec as we work together to complete our merger. We continue to believe that this merger will provide significant value to our shareholders as we enhance and grow the fintech operations of Blackbox in parallel with this new business combination.”
About Evtec
Evtec is recognized as one of the world’s leading advanced aluminium castings and machining manufacturer supplying premium brand Original Equipment Makers (‘OEM’s”). It supplies a range of strategic auto parts on powertrain and EV packs as well as body-in-white structural parts, from its world-class facilities in the UK. Their business focuses on premium luxury brands and a market transition to electric vehicles and includes Jaguar Land Rover Group as their largest customer. As a result of significant change in the global supply chain for auto manufacturing in Great Britain that places an increased need for local sourcing of parts, Evtec is well positioned to expand both organically and through acquisition. For more information, go to: www.evtec-aluminium.com
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs "predictive technology" enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/screenshare feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans over 40 countries; current subscription fees are
For more information, go to: https://blackboxstocks.com/
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