One-piece carbon fibre road wheel manufacturer Carbon Revolution is to raise $95 million and invest in a mega production line to vastly increase production of its automotive road wheels.
The maker of wheels for Ferrari, Ford Mustang and Renault Megane models told investors it would begin construction of Phase 1 of its first mega-line production system.
The Geelong company has been industrialising its processes and investing in quality improvement as it builds up production of its unique wheel products.
The company said it had sold approximately 40,000 wheels so far, and had has secured “formal agreements to initiate detailed design and engineering relating” on four new Original Equipment Manufacturer (OEM) programs, with a significant amount of planned work do with electric vehicles. It added elsewhere in the statement that a further ten unannounced programs are currently under formal agreements.
“Following extensive collaboration with these customers, Carbon Revolution believes it will require additional capacity of circa 75,000 wheels per
annum in order to deliver these programs,” Carbon Revolution said in a statement.
“Carbon Revolution is also announcing its Q3 FY21 results today. The company saw strong growth with revenue and volumes rebounding from Q2 FY21 and progressed with reducing labour hours per wheel to 31 hours, heading towards its near-term target of circa 17 hours per wheel.”
Picture: Carbon Revolution
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