Motorcar Parts of America’s Subsidiary D&V Electronics Establishes Distribution Partnership to Accelerate Electric Vehicle Testing Solution Sales in European Market
September 22 2021 - 8:00AM
Business Wire
Motorcar Parts of America, Inc. (Nasdaq:MPAA) today
announced its wholly owned subsidiary D&V Electronics, based in
Woodbridge, Ontario, has established a non-exclusive strategic
distribution partnership with TECTRA a.s. to leverage this
Prague-based organization’s position in the European testing
solutions market.
“The partnership enhances our presence within the Czech
Republic and leverages D&V’s reputation for leading-edge
testing and diagnostic equipment utilized in the development and
production of electric vehicles,” said Selwyn Joffe, chairman,
president, and chief executive officer.
“Expanding our global presence through commercial distribution
partnerships complements our ongoing strategic growth initiatives
and provides strong local support for our products and services. We
look forward to working with TECTRA a.s. to take advantage of the
exciting opportunities in the Czech Republic,” said Bill Hardy,
chief executive officer of D&V Electronics.
“With the ongoing transformation of the automotive industry, we
are extremely excited to establish a partnership with D&V
Electronics. D&V Electronics and TECTRA a.s. share the same
vision to expand our presence in Czech Republic. With the rapid
adoption of electric and autonomous vehicles, we see immense growth
opportunities for both companies,” said Zbynek Sommer, managing
director of Tectra a.s.
ABOUT D&V ELECTRONICS
Founded in 1997 and acquired by Motorcar Parts of America in
2017, the electrical vehicle testing subsidiary, with customers in
more than 80 countries, designs and manufactures testing solutions
for performance, endurance, and production of multiple components
in the electric power train – providing simulation, emulation, and
production applications for the electrification of both automotive
and aerospace industries, including electric vehicle charging
systems. Additional information is available at
www.dvelectronics.com.
ABOUT TECTRA A.S.
Founded in 1990, TECTRA a.s. provides testing solutions and
services for customers in Central and Southeastern Europe --
including The Czech Republic, Slovakia, Hungary, Slovenia, Croatia,
Serbia, Monte Negro and Macedonia. Additional information is
available at www.tectra.cz and www.tectra.com.
ABOUT MOTORCAR PARTS OF AMERICA
Motorcar Parts of America, Inc. is a remanufacturer,
manufacturer, and distributor of automotive aftermarket parts --
including alternators, starters, wheel bearings and hub assemblies,
brake calipers, brake master cylinders, brake power boosters,
turbochargers, and diagnostic testing equipment utilized in
imported and domestic passenger vehicles, light trucks, and
heavy-duty applications. Its products are sold to automotive retail
outlets and the professional repair market throughout the United
States, Canada, and Mexico, with facilities located in California,
New York, Mexico, Malaysia, China and India, and administrative
offices located in California, Tennessee, Mexico, Singapore,
Malaysia, and Canada. In addition, the company’s electrical vehicle
subsidiary designs and manufactures testing solutions for
performance, endurance, and production of multiple components in
the electric power train – providing simulation, emulation, and
production applications for the electrification of both automotive
and aerospace industries, including electric vehicle charging
systems. Additional information is available at
www.motorcarparts.com.
The Private Securities Litigation Reform Act of 1995 provides a
“safe harbor” for certain forward-looking statements. The
statements contained in this press release that are not historical
facts are forward-looking statements based on the company’s current
expectations and beliefs concerning future developments and their
potential effects on the company. These forward-looking statements
involve significant risks and uncertainties (some of which are
beyond the control of the company) and are subject to change based
upon various factors. Reference is also made to the Risk Factors
set forth in the company’s Form 10-K Annual Report filed with the
Securities and Exchange Commission (SEC) in June 2021 and in its
Forms 10-Q filed with the SEC for additional risks and
uncertainties facing the company. The company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as the result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210922005225/en/
Gary S. Maier (310) 972-5124
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