The firm will be a single-source supplier for key components in the EV power train of the new line of electric vehicles being introduced by Jaguar. It is expected to provide more than $67m in sales to Evtec excluding after-market and model life extensions.
Jaguar's new line of luxury vehicles will include a four-door GT model, as well as a luxury sedan that are expected to have a range of more than 435 miles and be capable of fast charging 200 miles in about15 minutes.
Evtec chairman David Roberts said: "We are delighted to be a crucial supply partner in the transition to all-electric by JLR and to further extend our reach around the EV power pack and supporting architecture supply chain with them.
"We see JLR as a unique business, representing the very best in advanced design and technology in the global luxury automotive market.
"This new business marks a key step forward in ensuring that OEMs have a reliable supply chain that can scale and meet the demands of the very best car makers in the world.
"Evtec competencies continue to grow in the light weighting programs demanded by OEMs as they move to aluminium based platforms and components."
Evtec is a planned acquisition target of Blackboxstocks Inc, a financial technology and social media hybrid platform.
Blackbox chief executive Gust Kepler added: "We are very pleased to see the growing order book for Evtec as we work toward completion of this merger.
"We feel this merger will provide significant shareholder value while we continue to operate the fintech operations of Blackbox in parallel with this new business combination."
Evtec is seen as one of the world’s leading advanced aluminium castings and machining manufacturer, supplying premium brand Original Equipment Makers (OEMs).
