HONG
KONG, Nov. 8, 2022 /PRNewswire/ -- Highway
Holdings Limited (Nasdaq: HIHO, "the Company" or "Highway
Holdings") today announced the Company has received a new order
from one of its Fortune 500
customers. The latest order is for the design, fabrication and
manufacture of a new brushless motor series. The first order is
scheduled for delivery in December
2022.
Roland Kohl, chairman, president
and chief executive officer of Highway Holdings, commented, "We are
very grateful to this Fortune 500 customer for the confidence it
has shown in Highway Holdings and our specialized motor making OEM
capabilities. The company has produced motors for nearly 20
years for this customer's German Motor division. The latest
order, however, is a major breakthrough as we are now making a
different type of brushless motors for the customer's USA division. The new brushless DC outer
runner motor we developed for them varies from the synchron and
stepping motors we continuously produce for the customer's German
operations."
"This motor customer is one of the company's main customers,
which we have been working to expand our relationship with for a
number of years. With this latest order for a new motor type, we
believe we now have opened a new door to extend our motor business
substantially as we more broadly support our famous customer."
About Highway Holdings Limited
Highway Holdings is an international manufacturer of a wide
variety of quality parts and products for blue chip equipment
manufacturers based primarily in Germany. Highway Holdings'
administrative offices are located in Hong Kong and
its manufacturing facilities are located in Yangon,
Myanmar and Shenzhen, China. For more information visit
website www.highwayholdings.com.
Except for the historical information contained herein, the
matters discussed in this press release are forward-looking
statements which involve risks and uncertainties, including but not
limited to economic, competitive, governmental, political and
technological factors affecting the company's revenues, operations,
markets, products and prices, and other factors discussed in the
company's various filings with the Securities and Exchange
Commission, including without limitation, the company's annual
reports on Form 20-F.
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SOURCE Highway Holdings Limited