Motorcar Parts of America’s EV Subsidiary Receives Order From Leading Chinese Automotive Company
April 25 2022 - 8:30AM
Business Wire
Motorcar Parts of America, Inc. (Nasdaq: MPAA) today
announced its wholly owned subsidiary D&V Electronics has
received an order for an electric motor emulator from one of
China’s largest automotive companies, a critical component of a
Power Hardware-In-the-Loop (p-HIL) test system to validate the
performance and design of drivetrain components. Terms were not
disclosed.
The p-HIL test system to be utilized by this Chinese automotive
customer is comprised of D&V’s emulator, Opal-RT Technologies’
advanced motor models and NI’s (Nasdaq: NATI) real-time
system.
“This order continues a series of global wins for our D&V
subsidiary and its cutting-edge EV technology. We look forward to
future opportunities to expand partnerships and work with global
electric mobility leaders,” said Selwyn Joffe, chairman, president
and chief executive officer.
“We continue to make significant strides in the integration of
our innovative emulator technology with real-time simulation and
modeling capabilities, offering the most advanced, green and
flexible test solutions for companies leading the electrification
movement,” said Bill Hardy chief executive of D&V
Electronics.
ABOUT D&V ELECTRONICS
Founded in 1997 and acquired by Motorcar Parts of America in
2017, the electrical vehicle subsidiary, with customers in more
than 90 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, Inc.
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/20220425005279/en/
Gary S. Maier (310) 972-5124
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