An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Motorcar Parts of America’s D&V Electronics Receives Inverter Test System Order From Taiwanese Agency for Development of Electric Vehicles
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Motorcar Parts of America (MPAA) announced that its subsidiary, D&V Electronics, has secured an order for an automated inverter test system from Taiwan’s Automotive Research & Testing Center (ARTC). This system will aid in the development of electric vehicles and technologies. The traction inverter is vital for converting direct current from batteries to alternating power for electric motors. The company anticipates growing demand for its testing technologies as the electric vehicle market expands.
Positive
Secured an order from a prestigious institution, ARTC, indicating confidence in technology.
Anticipates increasing demand for testing solutions in the growing electric vehicle market.
Negative
Terms of the contract were not disclosed, leaving uncertainty regarding financial impact.
LOS ANGELES--(BUSINESS WIRE)--
Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced its wholly owned subsidiary D&V Electronics has received an order for an automated inverter test system from Taiwan’s Automotive Research & Testing Center (ARTC) to support the development of electric vehicles and related technologies. Terms of the contract were not disclosed.
The traction inverter is a critical component in an electric vehicle’s powertrain system, designed to convert direct current from the battery to alternating power suitable for driving the electric motor.
“This prestigious research and testing center is committed to innovation and safety, including the development of green transportation solutions, based on internationally recognized testing standards and certification, and we are proud to have been selected by ARTC after a rigorous evaluation process,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
“As the global electric vehicle market evolves, we anticipate increasing demand for our technology -- particularly our ability to support the testing of electric motor inverters used in automotive and other transportation applications, and the testing of multiple driveline components at any stage of R&D in the manufacturing process. We appreciate ARTC’s confidence in our technology and look forward to future opportunities to work together,” said Bill Hardy, chief executive officer of D&V Electronics.
ABOUT ARTC
The Automotive Research & Testing Center (ARTC) was established in 1990 by the Ministry of Economic Affairs together with the Ministry of Transportation and Communication and the Environmental Protection Administration. Additional information is available at www.artc.org.tw.
ABOUT D&V ELECTRONICS
Founded in 1997 and acquired by Motorcar Parts of America in 2017, the electrical vehicle subsidiary, with customers in more than 90 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, Inc.
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. In addition, the company’s electrical vehicle subsidiary 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.motorcarparts.com.
Forward-Looking Statements
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 2021 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.
What order did Motorcar Parts of America (MPAA) receive?
MPAA announced an order for an automated inverter test system from Taiwan's Automotive Research & Testing Center.
How does the automated inverter test system benefit electric vehicles?
The system is designed to support the development of electric vehicles by testing traction inverters, which convert battery power to the electric motor.
What is the significance of the partnership with ARTC for MPAA?
The partnership highlights MPAA's technology capacity and potential for growth in the electric vehicle testing market.
When was the order from ARTC announced?
The order was announced by MPAA on the date of the press release.
What is the stock symbol for Motorcar Parts of America?
The stock symbol for Motorcar Parts of America is MPAA.
