ECD Auto Design Adds Black Dog Traders Branded Classic Toyota FJ SUVs to Product Lineup
June 04 2024 - 7:30AM
ECD Automotive Design, Inc. (Nasdaq:ECDA) (“ECD” or the “Company”),
the world’s largest Land Rover and Jaguar restoration company known
for its custom luxury builds, including bespoke Defenders, Range
Rovers, Jaguar E-Types and Ford Mustangs announced today that it
entered into a licensing agreement with Black Dog Traders to
produce branded classic Toyota FJ SUVs at their Kissimmee, FL
facility.
The license agreement provides ECD access
to Black Dog Trader’s IP, branding and top of funnel marketing
support in exchange for a fee and royalty per vehicle sale. Black
Dog Traders has a rich history in restoration and modification of
classic Toyota FJ SUVs for the past decade.
Toyota FJ SUVs, with their unique blend of
classic charm and rugged adventure, have garnered a devoted
following among classic car enthusiasts. Black Dog Traders,
renowned for their premium custom-built FJs, will now lend their
expertise to ECD. This strategic relationship will not only allow
Black Dog Traders to scale up their operations but also provide ECD
with another avenue to produce high-end custom classic vehicles.
Producing the FJs allows ECD to meaningfully expand its total
addressable market and enhance its industry leading margins at a
luxury price point and a fully bespoke customization package. ECD
also believes that the classic Toyota FJ is perfectly suited to be
equipped with the company’s Generation Two EV kit.
Scott Wallace, CEO of ECD, said, “Working with
Black Dog will provide access to a new set of classic car
customers, accelerating ECD’s ability to fill our factory with some
of the most iconic classic vehicles ever produced. This
relationship introduces a new model to ECD’s line-up, providing the
company flexibility and increased market penetration in a
capital-efficient manner.
Mr. Wallace continued, “We anticipate greater
than 100% revenue growth in 2024 and our production backlog carries
into the second quarter or 2025 with gross margins on par or better
than industry leading luxury car manufacturers such as Ferrari, NV.
Beyond manufacturing, we believe the classic car ecosystem is a $15
billion industry encompassing manufacturing, storage, financing and
consignment. By expanding our product offerings and customer base,
we can look to capitalize on this fragmented and growing
market.”
About Black Dog Traders
Black Dog Traders specializes in customizing and
modernizing Toyota Land Cruisers. Tailor-made in Dallas Texas to go
anywhere and do anything. Our quest in life is to design a truck
that will keep up with your wandering spirit. Tackle any obstacle,
yet retain the vintage styling roots that we’ve grown to love. The
perfect blend of classic and modern, with an emphasis on
performance and comfort. For more information, visit
www.blackdogtraders.com
About ECD Auto Design
ECD, a public company trading under ECDA on the
Nasdaq, is a creator of restored luxury vehicles that combine
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.
Investor Contact:Brian M.
Prenoveau, CFAMZ Group – MZ North AmericaECDA@mzgroup.us+561 489
5315
SOURCE: ECD Automotive Design, Inc.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/44bbab6e-58cb-4cdf-89e6-0673a05dfdd7
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