Motorcar Parts of America’s Subsidiary Gains Orders as Global Automotive Manufacturers Accelerate Electric Vehicle Developm...
May 11 2021 - 8:30AM
Business Wire
Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced
its wholly owned subsidiary D&V Electronics recently received
two orders valued at more than $2 million for advanced power
hardware-in-the-loop testbed (p-HIL) and inverter test systems from
global electric vehicle manufacturers in China and Europe.
Additional terms were not disclosed.
“These orders continue a series of meaningful wins with major
automotive and transportation companies that are focused on vehicle
and aviation electrification. We are excited to further our
successful relationships in this space and appreciate the
confidence in our power hardware-in-the-loop technology represented
by these orders. We look forward to future opportunities to
demonstrate our cutting-edge capabilities, expand partnerships and
work with global transportation leaders,” said Selwyn Joffe,
chairman, president and chief executive officer.
The p-HIL test systems will be used in the design and
performance validation process for development of electric vehicle
drivetrain components by customers in China and Europe. The test
systems include real-time simulation and modeling from Opal-RT to
electronically emulate high-speed, high-power electric motors and
high-voltage battery packs for drivetrain component testing.
“We have made significant strides in the integration of our
innovative emulator technology with Opal-RT’s leading edge
real-time simulation and modeling capability to offer the most
advanced and flexible test solutions for companies leading the
vehicle electrification movement. Not only are we integral in the
development of green transport solutions, but we also minimize
environmental impact by providing the most efficient test
capability in the market today,” said David Eddy, general manager
of D&V Electronics USA.
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 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. Additional information is available at
www.motorcarparts.com.
About OPAL-RT TECHNOLOGIES
Established in 1997, OPAL-RT TECHNOLOGIES develops, and markets
high-performance real-time simulators used by universities,
research centers and large corporations working in the automotive,
aerospace, power electronics and power grid industries. Over the
years, OPAL-RT has taken its place as a world leader in real-time
simulation of electromagnetic systems by providing powerful
simulation systems that allow users to develop or test their
products or designs in a safe environment. OPAL-RT has offices in
France, Germany, India, China, and the United States. Additional
information is available at www.opal-rt.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 2020 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/20210511005304/en/
Gary S. Maier (310) 972-5124
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