BLBX - Blackboxstocks Inc. Acquisition Target Evtec Aluminium Receives New $67 Million Long Term Supply Contract from Jaguar Land Rover | Benzinga
New contract adds to Evtec's existing order book of $780 million
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 $67 million in new sales to Evtec over the contract period, excluding aftermarket and model life extensions. Jaguar's new line of luxury vehicles are to include a 4-door GT model and a luxury sedan that are both expected to have a range of over 435 miles and capable of fast charging 200 miles in approximately 15 minutes.
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 ...