Highway Holdings Secures Major Order for Advanced Electric Motor
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Highway Holdings Makes Waves with New Electric Motor Order
Highway Holdings Limited (NASDAQ: HIHO) recently announced exciting developments regarding its innovative brushless electric motor. The company has received a substantial initial order of 100,000 units from one of its prominent strategic clients, marking a major milestone in its production capabilities. This new motor design, tailored specifically for the client, positions Highway Holdings as an Original Design Manufacturer (ODM) instead of the traditional Original Equipment Manufacturer (OEM) role.
Significance of the Order
Roland Kohl, the chairman and CEO of Highway Holdings, expressed enthusiasm regarding the recent order. The journey for this project began almost five years ago, initially projected to launch much earlier. However, the timeline faced considerable setbacks due to the global disruptions caused by the COVID-19 pandemic.
Advanced Manufacturing Capabilities
The company's existing expertise includes the production of synchronize and stepping motors for another key customer. The introduction of the new brushless electric motor significantly enriches its portfolio. As they prepare to launch the new production line, Highway Holdings expects to emerge as a leading provider of this particular motor type, robustly supporting its growth strategy.
Boosting Production and Revenue
Highway Holdings anticipates that the increased demand for its latest motor design will lead to a remarkable uptick in production volume. This advancement is expected to serve as a pivotal contributor to the company’s revenue growth in the foreseeable future, enhancing its stature in the competitive market of electronic components.
About Highway Holdings Limited
Highway Holdings is well-known as an international manufacturer, producing a diverse range of high-quality components and products for respected blue-chip equipment manufacturers, mainly in Germany. With its administrative offices in Hong Kong and manufacturing sites in Yangon and Shenzhen, the company is positioned strategically in Asia. To learn more about Highway Holdings, you can visit their website.
Frequently Asked Questions
What recent order did Highway Holdings announce?
Highway Holdings announced an initial order of 100,000 units for a new brushless electric motor from a major strategic customer.
Who is the CEO of Highway Holdings?
Roland Kohl serves as the chairman, president, and chief executive officer of Highway Holdings.
What challenges were faced during the development of the electric motor?
The development of the product faced significant delays of over three years, primarily due to the impact of COVID-19.
What types of motors does Highway Holdings currently manufacture?
The company manufactures synchron and stepping motors for various customers along with the new brushless electric motor.
Where are Highway Holdings' manufacturing facilities located?
Highway Holdings has manufacturing facilities in Yangon, Myanmar, and Shenzhen, China.
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