Motorcar Parts of America’s D&V Electronics Receives Inverter Test System Order From Taiwanese Agency for Development of Electric Vehicles

LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced its wholly owned subsidiary D&V Electronics has received an order for an automated inverter test system from Taiwan’s Automotive Research & Testing Center (ARTC) to support the development of electric vehicles and related technologies. Terms of the contract were not disclosed.

The traction inverter is a critical component in an electric vehicle’s powertrain system, designed to convert direct current from the battery to alternating power suitable for driving the electric motor.

“This prestigious research and testing center is committed to innovation and safety, including the development of green transportation solutions, based on internationally recognized testing standards and certification, and we are proud to have been selected by ARTC after a rigorous evaluation process,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.

“As the global electric vehicle market evolves, we anticipate increasing demand for our technology -- particularly our ability to support the testing of electric motor inverters used in automotive and other transportation applications, and the testing of multiple driveline components at any stage of R&D in the manufacturing process. We appreciate ARTC’s confidence in our technology and look forward to future opportunities to work together,” said Bill Hardy, chief executive officer of D&V Electronics.

ABOUT ARTC

The Automotive Research & Testing Center (ARTC) was established in 1990 by the Ministry of Economic Affairs together with the Ministry of Transportation and Communication and the Environmental Protection Administration. Additional information is available at www.artc.org.tw.

ABOUT D&V ELECTRONICS

Founded in 1997 and acquired by Motorcar Parts of America in 2017, the electrical vehicle subsidiary, with customers in more than 90 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.

About Motorcar Parts of America, Inc.

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary 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.motorcarparts.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2021 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.