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Motorcar Parts of America’s Subsidiary D&V Electronics Establishes Distribution Partnership to Accelerate Electric Vehicle Testing Solution Sales in European Market
LOS ANGELES--(BUSINESS WIRE)-- Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced its wholly owned subsidiary D&V Electronics, based in
About this update from Motorcar Parts Of America, Inc.
[{"type":"text","content":" LOS ANGELES--(BUSINESS WIRE)--\nMotorcar Parts of America, Inc. (Nasdaq:MPAA) today announced its wholly owned subsidiary D&V Electronics, based in Woodbridge, Ontario, has established a non-exclusive strategic distribution partnership with TECTRA a.s. to leverage this Prague-based organization’s position in the European testing solutions market.\n\n“The partnership enhances our presence within the Czech Republic and leverages D&V’s reputation for leading-edge testing and diagnostic equipment utilized in the development and production of electric vehicles,” said Selwyn Joffe, chairman, president, and chief executive officer.\n\n“Expanding our global presence through commercial distribution partnerships complements our ongoing strategic growth initiatives and provides strong local support for our products and services. We look forward to working with TECTRA a.s. to take advantage of the exciting opportunities in the Czech Republic,” said Bill Hardy, chief executive officer of D&V Electronics.\n\n“With the ongoing transformation of the automotive industry, we are extremely excited to establish a partnership with D&V Electronics. D&V Electronics and TECTRA a.s. share the same vision to expand our presence in Czech Republic. With the rapid adoption of electric and autonomous vehicles, we see immense growth opportunities for both companies,” said Zbynek Sommer, managing director of Tectra a.s.\n\nABOUT D&V ELECTRONICS\n\nFounded in 1997 and acquired by Motorcar Parts of America in 2017, the electrical vehicle testing subsidiary, with customers in more than 80 countries, designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.dvelectronics.com.\n\nABOUT TECTRA A.S.\n\nFounded in 1990, TECTRA a.s. provides testing solutions and services for customers in Central and Southeastern Europe -- including The Czech Republic, Slovakia, Hungary, Slovenia, Croatia, Serbia, Monte Negro and Macedonia. Additional information is available at www.tectra.cz and www.tectra.com.\n\nABOUT MOTORCAR PARTS OF AMERICA\n\nMotorcar Parts of America, Inc. is a reman...