KISSIMMEE, Fla., Feb. 22,
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 a recent sale of a highly customized Electric Land
Rover Defender 90 for more than $400,000, the highest sales price to date and
more than 20% above the Company's historical average selling
price.
The sale above the $400,000
threshold demonstrates the continued inclusion of value-added
features, luxury appointments, and quality of life enhancements
that are embraced by affluent customers.
The fully customized, 'one-of-one', EV Defender 90 has a
soft-top and is outfitted with a second-generation fast charge EV
system. The vehicle features also include upgraded air suspension,
a wide body kit, a classic dash, and an interior with Spinneybeck
leather features and Recaro electric racing seats.
"This Defender is a true work of art for a highly discerning
client," commented Scott Wallace,
ECD's Chief Executive Officer. "We provided the client with a
highly immersive experience where they drove the design process –
not us – selecting from a near limitless range of features, upgrade
options, and additional luxury touches that reflected their
individual personality and lifestyle. The result was a Defender 90
with an advanced, second-generation EV powertrain, making it
environmentally friendly and powerful, in a breathtaking
package."
Added Wallace, "Choice and customization are the key drivers of
our unit economics. The more choice and customization we provide to
customers, the more value we provide customers and the higher ASP
we can command. This drives incremental profitability for our
business. Our customers are eager for luxury appointments and
performance enhancements, and we are committed to meeting this
demand with the highest quality components and features."
In the coming months, ECD will introduce additional options
including new axle upgrades with enhanced performance, retractable
side steps, rear in-car entertainment packaged in a new console
surround similar to Tesla as well as an electric folding roof
system.
About ECD Automotive 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 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
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 preliminary prospectus contained in the
Form S-1 registration statement that ECD filed 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.
Contacts:
ECD Automotive Design
Scott Wallace, CEO
investorrelations@ecdautodesign.com
FNK IR
Rob Fink or Matt Chesler, CFA
ecda@fnkir.com
646-809-4048 / 646-809-2183
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SOURCE ECD Automotive Design