Organic Geographic Expansion Demonstrates
Global Interest in Bespoke Classic Restomods
KISSIMMEE, Fla., Feb. 15,
2024 /PRNewswire/ -- ECD Automotive Design
Inc. ("ECD" or the "Company") (NASDAQ: ECDA), an industry
leader in delivering restored, modified and electrified Land Rover
Defenders, Jaguars, and other classic and collectible automobiles, today announced
that it has delivered its first personalized Land Rovers to
customers in Poland, Spain and the Caribbean. The first sales to customers in
these expansion markets demonstrates the strong and growing interest
globally for ECD's 'one-of-one', fully-customized classic Land
Rover and Jaguar vehicles from passionate auto enthusiasts around
the world.
"These orders come from organic interest," commented
Scott Wallace, ECD's Chief Executive
Officer. "Our growing client base, expanding brand presence, and
robust demand for restomod versions of these classic vehicles is
driving consumer interest from affluent customers around the world.
ECD continues to earn media coverage and expand its social media
presence, such as the more than 350,000 monthly impressions on
Pinterest and strong interest on other social media platforms,
increasingly making our customized vehicles a global brand for
affluent clientele. This organic demand enables us to fully utilize
our manufacturing capacity without incurring expensive customer
acquisition or marketing expenses. As demand grows, we plan to
expand manufacturing capacity to leverage our industry-leading
manufacturing capabilities to meet the global demand."
- The first sale in Poland was
for a Defender 110 featuring a 6.2-liter, 430-hp, Chevrolet LS3 V-8
engine and a six-speed automatic transmission.
- The first sale in Spain was
for a Defender 90 with a Chevrolet LS3+ V-8 engine perched on
18-inch Kahn 1983 Satin Black wheels and BFG All-Terrain
tires.
- The first sale in the Caribbean was for a Defender 110 featuring an
upgraded Chevrolet LS3+ 565 horsepower V-8 engine.
Based on growing demand in Europe and the Middle East, ECD plans to expand its modest
marketing campaigns to target trade press in the United Arab Emirates, one of the more affluent
countries in the world.
"Growing demand from the United
States and other affluent countries enables us to maximize
our manufacturing capacity, driving expanded operating margins,"
concluded Wallace.
About ECD Auto Design
ECD 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 and the Jaguar E-Type.
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 80 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 does not presently know, or that ECD
currently believes 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
forward-looking statements 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 the definitive proxy statement/prospectus ECD
filed on November 13, 2023, with the
SEC, including those under "Risk Factors" therein. 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.
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SOURCE ECD Automotive Design