Blackboxstocks, Inc. Acquisition Target Evtec Aluminium Receives New $67 Million Long Term Supply Contract with JLR

Rhea-AI Summary

Blackboxstocks Inc. (NASDAQ: BLBX) announced that its acquisition target Evtec Aluminium Limited has executed a supply contract with JLR to supply parts for a new line of Jaguar Electric Vehicles. The contract is expected to provide over $67 million in new sales to Evtec. The new line of luxury vehicles by Jaguar is expected to have a range of over 435 miles and be capable of fast charging 200 miles in around 15 minutes.

Positive

• The contract is expected to provide over $67 million in new sales to Evtec.
• Jaguar's new line of luxury vehicles is expected to have a range of over 435 miles and be capable of fast charging 200 miles in around 15 minutes.

Negative

• None.

-New contract adds to an existing order book of $780 million

-Parts supplied by Evtec will be used in new Jaguar Electric Vehicles to be introduced in 2025-

LONDON, Feb. 1, 2024 /PRNewswire/ -- Blackboxstocks Inc. (NASDAQ: BLBX), ("Blackbox" or the "Company"), a financial technology and social media hybrid platform offering real-time proprietary analytics for stock and options traders, announced today that its planned acquisition target Evtec Aluminium Limited, ("Evtec") has executed a supply contract with JLR (formerly Jaguar Land Rover) to supply parts for a new line of Jaguar Electric Vehicles.

As a world class manufacturer of lightweight aluminum parts for the EV, luxury and performance automotive market, Evtec will be a single-source supplier for key components in the EV power train of the new line of electric vehicles being introduced by Jaguar.

The contract is expected to provide over $67 million in new sales to Evtec excluding after market and model life extensions. Jaguar's new line of luxury vehicles will include a 4 door GT model as well as a luxury sedan that are expected to have a range of over 435 miles and be capable of fast charging 200 miles in around 15 minutes.

Evtec Chairman, David Roberts, commented: "We are delighted to be a crucial supply partner in the transition to all-electric by JLR and to further extend our reach around the EV power pack and supporting architecture supply chain with them. We see JLR as a unique business, representing the very best in advanced design and technology in the global luxury automotive market. This new business marks a key step forward in ensuring that OEMs have a reliable supply chain that can scale and meet the demands of the very best car makers in the world. Evtec competencies continue to grow in the light weighting programs demanded by OEMs as they move to aluminium based platforms and components".

Blackbox CEO, Gust Kepler added, : "We are very pleased to see the growing order book for Evtec as we work toward completion of this merger. We feel this merger will provide significant shareholder value while we continue to operate the fintech operations of Blackbox in parallel with this new business combination".

About Evtec

Evtec is recognized as one of the world's leading advanced aluminium castings and machining manufacturer supplying premium brand Original Equipment Makers ('OEM's"). It supplies a range of strategic auto parts on powertrain and EV packs as well as body-in-white structural parts, from its world-class facilities in the UK.  Their business focuses on premium luxury brands and a market transition to electric vehicles and includes Jaguar Land Rover Group as their largest customer. As a result of significant change in the global supply chain for auto manufacturing in Great Britain that places an increased need for local sourcing of parts, Evtec is well positioned to expand both organically and through acquisition. For more information, go to: www.evtec-aluminium.com 

About Blackboxstocks, Inc.

Blackboxstocks, Inc. is a financial technology and social media hybrid platform offering real-time proprietary analytics and news for stock and options traders of all levels. Our web-based software employs "predictive technology" enhanced by artificial intelligence to find volatility and unusual market activity that may result in the rapid change in the price of a stock or option. Blackbox continuously scans the NASDAQ, New York Stock Exchange, CBOE, and all other options markets, analyzing over 10,000 stocks and up to 1,500,000 options contracts multiple times per second. We provide our users with a fully interactive social media platform that is integrated into our dashboard, enabling our users to exchange information and ideas quickly and efficiently through a common network. We recently introduced a live audio/screenshare feature that allows our members to broadcast on their own channels to share trade strategies and market insight within the Blackbox community. Blackbox is a SaaS company with a growing base of users that spans over 40 countries; current subscription fees are $99.97 per month or $959.00 annually.

For more information, go to: https://blackboxstocks.com/

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Disclosure Information

Blackboxstocks uses and intends to continue to use its Investors website at https://blackboxstocks.com/company-overview as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the Company's Investors website, in addition to following the Company's press releases, SEC filings, public conference calls, presentations and webcasts.

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SOURCE Evtec

FAQ

What is the ticker symbol for Blackboxstocks Inc.?

The ticker symbol for Blackboxstocks Inc. is BLBX.

What is the expected sales amount from the new contract for Evtec?

The new contract is expected to provide over $67 million in new sales to Evtec.

What are the key components that Evtec will supply for the new line of Jaguar Electric Vehicles?

Evtec will be a single-source supplier for key components in the EV power train of the new line of electric vehicles being introduced by Jaguar.

What is the expected range of the new line of luxury vehicles by Jaguar?

The new line of luxury vehicles by Jaguar is expected to have a range of over 435 miles and be capable of fast charging 200 miles in around 15 minutes.