Motorcar Parts of America’s EV Subsidiary D&V Electronics Establishes Distribution Partnership for Southeast Asia

Rhea-AI Summary

Motorcar Parts of America (Nasdaq: MPAA) announced a strategic distribution partnership between its subsidiary D&V Electronics and Singapore's TME Systems Pte Ltd. This collaboration aims to enhance D&V's presence in Southeast Asia, capitalizing on its expertise in testing and diagnostic equipment for electric vehicles. Both companies anticipate significant growth opportunities in this rapidly evolving market. The announcement underscores the importance of commercial partnerships in Motorcar Parts' strategic growth initiatives, with no financial terms disclosed.

Positive

• Strategic partnership with TME Systems enhances market presence in Southeast Asia.
• Collaboration aligns with the growth in electric and autonomous vehicle adoption.

Negative

• None.

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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FAQ

What is the recent partnership announced by Motorcar Parts of America (MPAA)?

Motorcar Parts of America announced a distribution partnership between its subsidiary D&V Electronics and TME Systems Pte Ltd to enhance its presence in Southeast Asia.

When was the partnership between D&V Electronics and TME Systems announced?

The partnership was announced today by Motorcar Parts of America.

What benefits does the partnership offer to Motorcar Parts of America (MPAA)?

The partnership offers increased market presence in Southeast Asia and aligns with the growing demand for electric and autonomous vehicles.

What does TME Systems Pte Ltd specialize in?

TME Systems specializes in high-tech automotive solutions, including digital applications for car connectivity and simulation testing.