XPEL Selected As Exclusive Supplier to Rivian Automotive LLC for New Paint Protection Film Factory Direct Program
July 12 2022 - 8:30AM
Business Wire
XPEL, Inc. (NASDAQ: XPEL) a global provider of protective films
and coatings today announced that they have been selected as the
exclusive supplier to Rivian Automotive LLC for their new paint
protection film (“PPF”) factory direct program.
By the terms of the agreement, Rivian Automotive will offer
factory direct PPF options to its customers ordering their new R1T
and R1S models beginning late 2022. Customers will be able to
choose between two PPF option packages: Front Gloss Paint Guard or
Full Body Satin Paint Guard. The Paint Guard packages have been
developed cooperatively between XPEL and Rivian’s vehicle
engineering and design teams to enhance the adventures of R1T and
R1S owners. XPEL will operate an installation facility in close
proximity to Rivian’s Normal, Illinois assembly plant, to ensure
installation quality control.
“We’re pleased to have this opportunity to bring our proprietary
design methodology and state-of-the-art paint protection films to
Rivian customers as the exclusive supplier of factory direct PPF
for their R1T and R1S vehicles,” commented Tim Hartt, Vice
President – Technical Operations & OEM of XPEL. “We are the
leader in advanced OEM level PPF solutions and we look forward to
leveraging our experience as a tier 1 supplier working with premium
automotive brands, to introduce XPEL products to Rivian and their
customers.”
ABOUT XPEL XPEL is a leading provider of protective films
and coatings, including automotive paint protection film, surface
protection film, automotive and commercial/residential window
films, and ceramic coatings. With a global footprint, a network of
trained installers and proprietary DAP software, XPEL is dedicated
to exceeding customer expectations by providing high-quality
products, leading customer service, expert technical support and
world-class training. XPEL, Inc. is publicly traded on Nasdaq under
the symbol “XPEL”. www.xpel.com
Safe harbor statement
This release includes forward-looking statements regarding XPEL,
Inc. and its business, which may include, but is not limited to,
anticipated use of proceeds from capital transactions, expansion
into new markets, and execution of the company's growth strategy.
Often, but not always, forward-looking statements can be identified
by the use of words such as "plans," "is expected," "expects,"
"scheduled," "intends," "contemplates," "anticipates," "believes,"
"proposes" or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results
"may," "could," "would," "might" or "will" be taken, occur or be
achieved. Such statements are based on the current expectations of
the management of XPEL. The forward-looking events and
circumstances discussed in this release may not occur by certain
specified dates or at all and could differ materially as a result
of known and unknown risk factors and uncertainties affecting the
company, performance and acceptance of the company's products,
economic factors, competition, the equity markets generally and
many other factors beyond the control of XPEL. Although XPEL has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking statement
can be guaranteed. Except as required by applicable securities
laws, forward-looking statements speak only as of the date on which
they are made and XPEL undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220712005411/en/
Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor
Relations Phone: (203) 972-9200 Email:
jnesbett@institutionalms.com
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