Motorcar Parts of America’s EV Subsidiary D&V Electronics Establishes Distribution Partnership for Southeast Asia
January 19 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 Singapore-based TME Systems Pte Ltd.
Terms were not disclosed.
“The partnership enhances our presence within Southeast Asia 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 TME systems to take advantage of the
exciting opportunities in Southeast Asia,” 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 DV
Electronics. DV Electronics and TME Systems Pte Ltd share the same
vision to expand our presence in Southeast Asia. With the rapid
adoption of electric and autonomous vehicles in this region, we see
immense growth opportunities for both companies,” said Ronald Soo,
managing director of TME Systems Pte Ltd.
About TME Systems
Based in Singapore with a 30-year history and branches and
affiliated offices in The Philippines, Thailand, Vietnam, Malaysia,
and Indonesia, TME Systems is an ISO 9001-certified premier
high-tech solutions and service provider -- including digital
solutions for car connectivity applications, hardware in-the-loop
simulation, automotive acoustic testing and vibration and sound
sensor applications. Additional information is available at
www.tmesystems.net.
Motorcar Parts of America, Inc. is a remanufacturer,
manufacturer, and distributor of automotive aftermarket parts --
including alternators, starters, wheel bearing and hub assemblies,
brake calipers, brake master cylinders, brake power boosters,
rotors, brake pads and turbochargers utilized in imported and
domestic passenger vehicles, light trucks, and heavy-duty
applications. In addition, the company designs and manufactures
test solutions for performance, endurance and production testing of
electric motors, inverters, alternators, starters, and belt starter
generators for the OE, aerospace, and aftermarket. Motorcar Parts
of America’s products are sold to automotive retail outlets and the
professional repair market throughout the United States and Canada,
with facilities located in New York, California, 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.
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/20210119005317/en/
Gary S. Maier (310) 972-5124
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