BLBX - Blackboxstocks Inc. Acquisition Target Evtec Aluminium Receives New $67 Million Long Term Supply Contract with JLR | Benzinga
-New contract adds to an existing order book of $780 million
-Parts supplied by Evtec will be used in new Jaguar Electric Vehicles to be introduced in 2025-
LONDON, Feb. 1, 2024 /PRNewswire/ -- 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 executed a supply contract with JLR (formerly 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 will be a single-source supplier for key components in the EV power train of the new line of electric vehicles being introduced by Jaguar.
The contract is expected to provide over $67 million in new sales to Evtec excluding after market and model life extensions. Jaguar's new line of luxury vehicles will include a 4 door GT model as well as a luxury sedan that are expected to have a range of over 435 miles and be capable of fast charging 200 miles in around 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 very pleased to see the growing order book for Evtec as we work toward completion of this merger. We feel ...