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Motorcar Parts of America’s Subsidiary Gains Orders as Global Automotive Manufacturers Accelerate Electric Vehicle Development Programs

·4 min read

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210511005304/en/

Contacts

Gary S. Maier
(310) 972-5124