KISSIMMEE, Fla., Aug. 12,
2024 /PRNewswire/ -- ECD Auto Design
(Nasdaq:ECDA), the world's largest Land Rover and Jaguar
restoration company known for its custom luxury builds, including
bespoke Defenders, Range Rovers, Jaguar E-Types, announced today
that it has secured $2 million of
funding from existing stakeholders to accelerate growth initiatives
in its recently acquired Ford Mustang and Toyota FJ product lines,
as well as secure high-value-added licenses to catalyze higher
prices and drive incremental margin. The specific details of the
$2 million of funding will be
disclosed by ECD in a Current Report on Form 8-K and readers are
advised to review the Form 8-K. Additionally, the company intends
to launch its "Build-To-Sell" model for clients that desire
immediate purchase and plans on showcasing these products in ECD's
first retail location to be opened in 2025.
Scott Wallace, Founder and CEO
commented, "We are excited to secure this funding with supportive
investors, as we collectively see the untapped potential of the
classic, luxury restomod industry. With a disciplined capital
allocation strategy, we believe we can continue to add new revenue
channels and increase the overall capacity utilization within our
100,000 square foot manufacturing facility."
About ECD Auto Design
ECD, a public company trading under ECDA on the Nasdaq, 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, the
Jaguar E-Type and we have recently added the Ford Mustang.
Historically each vehicle produced by ECD was 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.
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SOURCE ECD Automotive Design