DETROIT--(BUSINESS WIRE)--Cosworth, the leading designer and manufacturer of high performance engines and end-to-end automotive technologies, today solidified its leadership position as the most trusted and innovative “Car of the Future” platform provider to Tier-1 auto OEMs by announcing record backlog of over $440 million across long-term contracts through 2026. To date, more than 100,000 cars are on the road in the U.S. equipped with Cosworth-patented AliveDrive technology that integrates camera sensor, vehicle dynamics data and data analytics software.
Additional business highlights include:
- Reported record revenue of $USD 72.5M for 2017 and achieved profitability
- 78% of 2018 revenue and 75% of 2019 revenue is booked
- More than $USD 1 billion in revenue in the pipeline including significant contribution from its fast-growing electronics segment
- Leveraging its longstanding brand and relationships with top-tier global OEMs such as GM, Aston Martin, Honda, Haitec and Porsche to lead the next generation of auto technology
- Significant investment in a new state-of-the-art manufacturing center soon to open in the Detroit area (first in the U.S.) that will continue to drive revenue and profitability and is the second Cosworth manufacturing center to open in three years
“For 60 years the Cosworth name has been recognized worldwide as the leader in high-performance racing engines, but few people realize we are also a major player in the automotive technology sector focused on the car of the future, with an established track record for innovation, design, engineering and production as well as speed to market,” said Cosworth CEO Hal Reisiger. “As one of the most trusted names in the automotive industry, we have unrivaled access to OEMs, and that gives us a key advantage over startups trying to make headway in the auto electronics space. Whereas others are still trying to get in the door, we have been in the market since 2015 and already have products in cars on the road and firm commitments from many top-tier manufacturers.”
“The car of the future will contain a hybrid engine and feature an array of predictive technologies – and Cosworth is a leader in both,” said Cosworth Chairman Kevin Kalkhoven. “Engines of the future will be predominantly hybrid – smaller and lighter and able to deliver both performance and efficiency. We already are manufacturing high-efficiency hybrid engines for a number of well-known manufacturers worldwide.”
Cosworth has demonstrated exceptional strength as a platform developer for advanced in-car technologies from entertainment to sensor technologies that capture data and translate it into real-time analytics. With this significant momentum in the auto tech market, the company is set to establish U.S. presence with the new headquarters and manufacturing facility in Shelby Township, Michigan. This local U.S. presence in the center of the automotive world will accelerate growth and ability to meet demand.
Cosworth is a globally recognized brand that has been leading automotive technology innovation for 60 years. As a trusted tier-one supplier, Cosworth is proud to work with a number of leading OEM’s shaping the landscape for the car of the future focused on performance, efficiency, connectivity and automation technology.
From high efficiency engines to groundbreaking sensors, Cosworth has developed a range of automotive hardware and software solutions that has secured long term contracts through to 2026 with a pipeline value over $USD 1B.
Based in Northampton, U.K., the company will be operating an advanced manufacturing facility in Detroit, MI by the end of 2018.
For more, visit www.cosworth.com