KISSIMMEE, Fla., Aug. 27, 2024 (GLOBE NEWSWIRE) -- ECD Automotive Design, Inc. (Nasdaq:ECDA) (“ECDA” or the “Company”), an industry leader in delivering restored, modified and electrified Land Rover Defenders, Jaguars, and other classic and collectible automobiles announced today that it entered into a licensing agreement with Blackbridge Motors to produce branded classic Land Rover Defender SUVs at their Kissimmee, FL facility.
The license agreement provides ECD access to Blackbridge’s IP, branding and top-of-funnel marketing support in exchange for a fee and royalty per vehicle sale. Blackbridge Motors is a resto-mod producer of classic Land Rover Defenders that blend heritage style and modern performance.
Producing the Blackbridge Defenders allows ECD to expand within the luxury Defender market, increase factory utilization and enhance its industry-leading margins at a luxury price point with a fully bespoke customization package. Over the past three years, Blackbridge has averaged 15 Defenders annually, at a price point that is similar to ECD.
Scott Wallace, CEO of ECD Auto Design, said, “Working with Blackbridge allows us further progress within our strategy to fill our factory. This relationship introduces new models to ECD’s line-up, providing the company flexibility and increased market penetration in a capital-efficient manner.”
Mr. Wallace continued, “The strategic relationship with Blackbridge allows us to capture more of the classic car ecosystem while increasing the productivity of our facility, allowing us to capture additional operating leverage and scale our business in ways that others in this industry have yet to achieve. Beyond manufacturing, we believe the classic car ecosystem is a $15 billion industry encompassing manufacturing, storage, financing and consignment. We have big plans for this company as we continue executing on our strategy to establish a luxury brand that can consolidate a historically large but fragmented luxury classic car industry.”
About Blackbridge Motors
Blackbridge Motors offers re-engineered solutions to classic car ownership that provides a modern driving experience while retaining the vehicle’s iconic design. For more information, visit www.blackbridgemotors.com
About ECD Auto Design
ECD, a public company trading under ECDA on the Nasdaq, is a creator of restored luxury vehicles that combines classic English beauty with modern performance. Currently, ECD restores Land Rovers Defenders, Land Rover Series IIA, the Range Rover Classic, the Jaguar E-Type and we have recently added the Ford Mustang. Each vehicle produced by ECD is fully bespoke, a one-off that is designed by the client through an immersive luxury design experience and hand-built from the ground up in 2,200 hours by master-certified Automotive Service Excellence ("ASE") craftsmen. The company was founded in 2013 by three British "gear heads' whose passion for classic vehicles is the driving force behind exceptionally high standards for quality, custom luxury vehicles. ECD's global headquarters, known as the "Rover Dome," is a 100,000-square-foot facility located in Kissimmee, Florida that is home to 90 talented craftsmen and technicians, who hold a combined 61 ASE and five master level certifications. ECD has an affiliated logistics center in the U.K. where its seven employees work to source and transport 25-year-old work vehicles back to the U.S. for restoration. For more information, visit www.ecdautodesign.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication and on the current expectations of ECD’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of ECD. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political and legal conditions.
If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that ECD do not presently know, or that ECD currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect ECD’s current expectations, plans and forecasts of future events and views as of the date hereof. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on the forward-looking statements contained in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of ECD described in ECD’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed by ECD with the SEC on May 3, 2024, including those under “Risk Factors” therein, and other documents that ECD may file or furnish with the SEC, which you are encouraged to read. ECD anticipates that subsequent events and developments will cause its assessments to change. However, while ECD may elect to update these forward-looking statements at some point in the future, ECD specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing ECD’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Investor Contact:
Brian M. Prenoveau, CFA
MZ Group – MZ North America
ECDA@mzgroup.us
+561 489 5315
SOURCE: ECD Automotive Design, Inc.
