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ECD Automotive Design, Inc. (NASDAQ: ECDA) stands as a premier custom-car builder, specializing in the restoration and modernization of classic British motor vehicles such as the Land Rover Defender, Land Rover Series IIA, Range Rover Classic, and Jaguar E-Type. Founded in 2013 by three British automotive enthusiasts, ECD has grown into the world's largest Land Rover and Jaguar restoration company, known for its bespoke luxury builds.
Main Operations:
- Restores and modernizes classic vehicles with a focus on Land Rovers and Jaguars.
- Customization includes engine upgrades, including Chevrolet V8s, Land Rover V8s, Cummins diesel engines, and new electric drivetrains.
- Every vehicle is hand-built in 2,200 hours by master-certified craftsmen at their 100,000-square-foot facility in Kissimmee, Florida.
Recent Achievements:
- Launched a mobile design studio to bring the customization experience directly to clients across the U.S.
- Introduced the ECD Beach Runner, a versatile vehicle based on the Land Rover Defender 110 platform.
- Expanded into the classic American muscle car market by acquiring assets from Brand New Muscle Car, enabling ECD to produce bespoke Ford Mustangs among other classic models.
- Increased production capacity through manufacturing efficiencies and a third production line focused on classic Ford Mustangs.
- Generated $15.1 million in revenue in 2023, a 22.5% increase from the previous year.
Customer Experience:
- Clients design their vehicles through an immersive luxury experience, choosing every detail from the powertrain to the upholstery.
- Launched a state-of-the-art vehicle configurator, allowing customers to design their dream vehicle from any device.
Financial Condition:
- Reported a net loss of $1.6 million for 2023, compared to $1.4 million in 2022, with improved gross margins due to efficiency gains.
- Operating income improved to $(1.6) million in 2023 from $(1.9) million in 2022.
- Cash and equivalents increased to $8.1 million as of December 31, 2023.
Future Outlook:
Eager to tap into the $15 billion market ecosystem for high-end and collectible cars, ECD aims to consolidate the luxury classic car market and expand its product base. With its strong brand and innovative approach, ECD is poised to become a leading player in the resto-mod industry, offering not just restored vehicles but complete luxury experiences.
ECD Automotive Design, Inc. (Nasdaq: ECDA), a leader in restoring, modifying, and electrifying classic vehicles like Land Rover Defenders, Jaguar E-Types, Ford Mustangs, and Toyota FJs, announced its participation in the LD Micro 17th Annual Main Event. The event will take place on October 29-30, 2024, at the Luxe Sunset Blvd Hotel in Los Angeles, CA.
ECD Automotive is scheduled to present both in-person and via live webcast on October 30 at 11am PT. CEO Scott Wallace and CFO Ben Piggott will be available for one-on-one meetings during the event. For more details, registration, or to schedule a meeting, attendees are encouraged to email mary@ldmicro.com or meetings@ldmicro.com.
ECD Auto Design, a leader in custom luxury vehicle restorations, is showcasing an extensive range of premium accessories for their one-of-one vehicle transformations. The company offers over 2 million possible design combinations for Land Rover Defenders, Range Rover Classics, Jaguar E-Types, Mustangs, and Toyota FJs. Highlighted accessories include:
1. Custom one-of-one paint coatings
2. Adventure accessories like ski racks and beach runner racks
3. Custom overnight camping trailers
4. Convenience upgrades such as dog ramps and power folding side steps
5. Interior upgrades including panoramic roofs, halo-style radio screens, and wood-paneled floors
These accessories aim to elevate both luxury and performance, ensuring each build is as unique as its owner. ECD Auto Design's commitment to customization allows clients to create truly bespoke vehicles tailored to their specific needs and preferences.
ECD Automotive Design (Nasdaq: ECDA) has announced a new retail strategy to establish brick-and-mortar showrooms for marketing and selling their vehicles. The company has partnered with Site Selection Group to identify optimal locations for these showrooms. ECD, known for restoring and modifying classic vehicles, aims to expand its revenue opportunities by allowing customers to see, touch, and drive their one-of-one vehicles in person.
The retail strategy is expected to generate additional revenue through three channels: custom builds, immediate delivery of existing ECD cars, and used ECD vehicle sales. CEO Scott Wallace believes this approach will drive further growth and provide an immersive design experience for customers. The company is targeting areas with high concentrations of ultra-luxury automotive dealers and ultra-high net worth individuals.
ECD Auto Design, a leader in custom classic luxury vehicles, has partnered with Mercy Full Projects, a Tampa-based non-profit dedicated to animal rescue and adoption. This collaboration aims to support animal welfare and raise awareness for pet adoption. Key highlights include:
- ECD is providing funding for Mercy Full Projects' rescue operations and animal care
- A joint photo and video shoot featuring ECD's custom Land Rover Defenders and adoptable dogs was conducted
- The resulting visuals will be used in an upcoming social media campaign to promote pet adoption
- The partnership aligns with ECD's commitment to community involvement and family values
- Mercy Full Projects reports that ECD's support has significantly impacted their ability to rescue more animals
The campaign, launching this month, aims to inspire pet adoption and support for local animal rescue efforts.
ECD Auto Design, a leader in custom luxury vehicle restorations, is launching its Cars & Coffee culture with an inaugural event on Sunday, September 22, 2024, from 9:00 AM to 12:00 PM at its Kissimmee, FL headquarters. The free event invites automotive enthusiasts, clients, content creators, and media partners to experience ECD's craftsmanship firsthand.
Attendees will have the opportunity to see custom-built vehicles, tour the 100,000 square-foot facility, and engage with the team behind these bespoke builds. ECD's collaboration partner, Turtleback Trailers, will showcase their Expedition T3 model as a complementary accessory for ECD SUVs. This event marks the beginning of a regular series aimed at bringing car culture enthusiasts together and showcasing ECD's unique offerings in vehicle restoration.
ECD Automotive Design (Nasdaq: ECDA) has announced significant changes in its leadership structure. Benjamin Piggott, previously the Chairman, has been appointed as the new Chief Financial Officer effective September 16, 2024. He succeeds Raymond Cole, who is stepping down for personal reasons but will remain in a consulting role through the first half of 2025.
Simultaneously, the company has restructured its Board of Directors. Scott Wallace, the CEO, has been appointed as the new Chairman of the Board. Both Benjamin Piggott and Thomas Humble have resigned from their positions on the Board.
Mr. Piggott brings extensive experience in business development and investment, having previously served as CEO of EF Hutton Acquisition I and holding positions at Laird Superfood and Fidelity Management & Research Company.
ECD Automotive Design (Nasdaq: ECDA) has regained compliance with Nasdaq's continued listing requirements. The company, known for restoring and modifying classic automobiles, faced delisting from the Nasdaq Global Market due to failing to meet the $50 million market value of listed securities (MVLS) requirement. To address this, ECD applied to transfer its listing to the Nasdaq Capital Market, which has a lower MVLS threshold of $35 million.
After receiving a delisting notice on August 13, 2024, ECD appealed and requested a hearing. However, on September 11, 2024, Nasdaq approved ECD's application to list on the Nasdaq Capital Market. As a result, ECD's securities began trading on the Nasdaq Capital Market on September 13, 2024, and the previous delisting notice was withdrawn.
ECD Automotive Design (Nasdaq: ECDA) has announced a collaboration with Roush for custom classic Mustang builds. This partnership will offer Roush engines as options for ECD's 1967-68 Ford Mustang models, starting with the ROUSH 347 SR as the base engine. Clients can also upgrade to other high-performance Roush engines, including the 347 IR, 427 SR, and 427 IR.
The collaboration aims to combine ECD's expertise in restoring and modernizing classic vehicles with Roush's engineering excellence and high-quality performance parts. The standard ROUSH 347 SR engine offers 410 hp and 400 ft-lbf of torque, with a displacement of 347 cubic inches and a max engine speed of 6250 rpm.
ECD Automotive Design has unveiled its latest custom luxury vehicle, the Beach Runner 3. This third iteration in the Beach Runner series combines the ruggedness of a classic Land Rover with innovative coastal-focused customization. Key features include:
- Cornish Cream gloss paint exterior
- Cohesive body color scheme including custom roll cage
- Recaro Expert S seats wrapped in Garrett Cadence Spice leather
- 2+2+4 seating layout with inward-facing jump seats
- French oak wood cargo area flooring
- Advanced in-car entertainment system
- GM LT1 engine with 10-speed automatic transmission
The Beach Runner 3 is now complete and available for sale, representing ECD's commitment to blending timeless design with modern performance and luxury.
ECD Automotive Design (Nasdaq:ECDA) has entered into a licensing agreement with Blackbridge Motors to produce branded classic Land Rover Defender SUVs at their Kissimmee, FL facility. This marks ECDA's first Defender agreement, allowing them to expand within the luxury Defender market and increase factory utilization.
The agreement provides ECD access to Blackbridge's IP, branding, and marketing support in exchange for a fee and royalty per vehicle sale. Blackbridge has averaged 15 Defenders annually over the past three years, at a price point similar to ECD's. This collaboration is expected to enhance ECDA's industry-leading margins and increase production line backlog in a capital-efficient manner.
CEO Scott Wallace emphasized that this strategic relationship allows ECDA to capture more of the $15 billion classic car ecosystem, increase productivity, and scale their business uniquely within the industry.
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