KISSIMMEE, Fla., July 15, 2025 (GLOBE NEWSWIRE) -- There are Land Rovers, and then there is Project Wilder, a hand-crafted California Land Rover Station Wagon by ECD Automotive Design with subtle styling cues from original series Land Rovers and later Land Rover Defenders, purpose-built to rule every road and outmatch every expectation. Conceived under California skies and brought to life in ECD’s Rover Dome, Project Wilder is more than a custom vehicle, it’s an untamed, 700+ horsepower thrill ride and ECD ...

KISSIMMEE, Fla., July 15, 2025 (GLOBE NEWSWIRE) -- There are Land Rovers, and then there is Project Wilder, a hand-crafted California Land Rover Station Wagon by ECD Automotive Design with subtle styling cues from original series Land Rovers and later Land Rover Defenders, purpose-built to rule every road and outmatch every expectation. Conceived under California skies and brought to life in ECD’s Rover Dome, Project Wilder is more than a custom vehicle, it’s an untamed, 700+ horsepower thrill ride and ECD ...

Core Insights - ECD Automotive Design has achieved significant recognition in the automotive industry with two major awards for its bespoke vehicles, showcasing its craftsmanship and innovation [2][4][5] Group 1: Awards and Recognition - The Jaguar E-Type "The Wellesley Commission" won First Place at the Larz Anderson Auto Museum's British Car Day, highlighting its modern performance and classic design [2][3] - Project Ghost '67, ECD's first custom Ford Mustang, received Best of Class at the 2025 Route 66 Road Fest, marking a successful expansion into American muscle cars [2][5] Group 2: Vehicle Details - The Wellesley Commission is a handcrafted Jaguar E-Type Series III, featuring a modern LS3 V8 engine and a classic British Racing Green finish, designed for a private collector [3][10] - Project Ghost '67 is a 1967 Mustang fastback equipped with a 465 HP Roush V8 engine, custom heated Recaro seats, and a high gloss mineral white exterior, representing ECD's approach to performance and personalization [4][5][10] Group 3: Company Background - ECD Automotive Design, trading under NASDAQ: ECDA, specializes in restoring luxury vehicles with a focus on bespoke designs, combining classic aesthetics with modern performance [9] - Founded in 2013, the company operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 105 skilled craftsmen with extensive certifications [9]

Core Insights - ECD Automotive Design, Inc. has signed a $500 million equity facility to implement a Bitcoin treasury strategy and support growth initiatives [1][3][6] - The company aims to engage the Bitcoin and digital asset communities, offering incentives for customers who purchase vehicles with Bitcoin [2][6] Financial Strategy - The proceeds from the $500 million facility will be used to acquire Bitcoin for the corporate treasury and fund general corporate purposes [3][6] - The company has the discretion to issue and sell up to $500 million in newly issued shares, with no obligation to draw on the facility [3][4] Customer Engagement - ECD plans to attract customers from the digital asset community by offering a $21,000 credit for vehicle upgrades to the first 21 customers who purchase a vehicle using Bitcoin [2][6] - The initiative reflects the company's confidence in the long-term potential of digital assets and aims to create value for shareholders and customers [3] Company Overview - ECD Automotive Design specializes in restoring luxury vehicles, including Land Rover and Jaguar models, and has a bespoke vehicle production process [5] - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing skilled craftsmen [5]

Core Insights - ECD Automotive Design has introduced the Jaguar E-Type GTO, a bespoke open-top grand tourer created under The Bridgewater Commission, representing a blend of classic design and modern performance [3][4][5] - The vehicle is handcrafted and aims to evolve Jaguar's historical legacy while providing a unique driving experience [6][9] Company Overview - ECD Automotive Design specializes in creating one-of-a-kind reimagined classic vehicles, merging British heritage with modern performance, and is known for its bespoke design experience [13] - The company has a focus on vehicles like Land Rover Defenders, Range Rover Classics, and Jaguar E-Types, ensuring each commission is hand-built in the U.S. [13] Vehicle Specifications - The Jaguar E-Type GTO features a hand-formed aluminum body, inspired by the Series I E-Type and D-Type, with a long-nose silhouette and functional louvers [7][14] - It is powered by a rebuilt Jaguar V12 engine, delivering over 400 horsepower, and is built on a custom-configured Series II chassis [8][14] - The interior includes custom GTS Classic Car Seats in high-quality leather, a brushed aluminum dash, and modern conveniences like Bluetooth audio and heated seats [10][11][14] Performance and Design - The vehicle's design incorporates elements from three generations of E-Type architecture, showcasing a blend of classic endurance racer proportions with modern engineering [9] - ECD's reinterpretation has received positive industry recognition, highlighting its craftsmanship and performance focus [6]

Core Insights - ECD Automotive Design is enhancing the classic Defender experience through interior upgrades in partnership with German seat manufacturer Scheel-Mann, focusing on comfort, space, and luxury [3][9]. Group 1: Key Enhancements - The introduction of bespoke Scheel-Mann seating, including the Traveller F series front seat known for its long-haul comfort and orthopedic-grade ergonomics, is now available on ECD builds [5]. - The Scheel-Mann LRD Edition features lift-up seat cushions for easy access to the factory battery and toolboxes, improving roadside service efficiency [6]. - Redesigned center consoles now include integrated cup holders, wireless chargers, and lockable compartments, enhancing functionality and comfort [7]. Group 2: Cabin Optimization - Modifications to the floorplan allow front seats to shift significantly rearward, improving comfort for both drivers and passengers while maintaining rear capacity [8]. - The re-engineered rear tub layout enhances middle-row accessibility and overall cabin flow, addressing long-standing comfort issues [8]. Group 3: Company Overview - ECD Automotive Design, trading under NASDAQ: ECDA, specializes in restoring luxury vehicles, combining classic aesthetics with modern performance [10]. - Each vehicle is bespoke, designed by clients through a luxury design experience, and hand-built over 2,200 hours by master-certified craftsmen [10]. - The company was founded in 2013 and operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 105 skilled workers [10].

Core Insights - ECD Automotive Design, Inc. reported financial results for Q1 2025, highlighting a revenue of $6.4 million, a decrease from $7.0 million in the same quarter of 2024, attributed to lower unit volume but offset by higher unit prices [8][9] - The company achieved a gross profit of $1.8 million with a gross margin of 27.5%, an increase of 570 basis points year-over-year, driven by an increase in average selling price [10][7] - ECD signed the largest custom order contract in its history for a Jaguar E-Type GTO valued at $620,000, indicating strong customer demand and a robust design process [4][5] Financial Performance - Revenue for Q1 2025 was $6.4 million, down from $7.0 million in Q1 2024, with lower unit volume slightly offset by higher unit prices [8][9] - Gross profit increased to $1.8 million from $1.5 million year-over-year, with a gross margin of 27.5% [10][8] - Operating expenses rose to $3.7 million in Q1 2025 from $2.5 million in Q1 2024, primarily due to increased general and administrative costs [11][12] Operational Highlights - The company titled 20 vehicles at an average price of $320,000 during the quarter, contributing to a sequential revenue increase [3][4] - ECD opened its first retail "Store within a Store" at One Driver's Club in West Palm Beach, Florida, expanding its market presence [7] - The company is focused on improving its liquidity profile and has taken steps to rationalize public company expenses [6] Market Position - ECD is positioned as the only domestic producer of one-of-one classic luxury restomods, providing a competitive advantage in customization capabilities [5][4] - The company continues to see strong customer demand and opportunities for enhanced profitability through additional customization and operational efficiencies [5][6]

Core Insights - ECD Automotive Design has launched a new Mustang program with the introduction of Project '67 Ghost, a fully bespoke 1967 Mustang Fastback, marking a significant expansion into American muscle cars [3][6] - The Mustang program emphasizes a client-driven, one-of-a-kind experience, allowing customers to customize every detail of their vehicles [4][8] - ECD has partnered with Roush Performance to provide upgraded Small Block Ford V8 engines, enhancing the performance while maintaining the original car's character [5][8] Company Overview - ECD Automotive Design is a public company listed on NASDAQ under the ticker ECDA, specializing in luxury vehicle restorations that blend classic aesthetics with modern performance [10] - Founded in 2013, the company operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 105 skilled craftsmen with a strong focus on quality and customization [10] - ECD's restoration process involves approximately 2,200 hours of hand-building each vehicle, ensuring a high level of craftsmanship and attention to detail [10] Product Highlights - The '67 Ghost features a 465-horsepower ROUSH 347 IR V8 engine, designed for a balance of raw power and everyday usability [6][11] - The vehicle is built on a Roadster Shop RS Spec chassis, providing responsive handling and modern comfort [6] - The exterior design includes High Gloss Mineral White paint with Santorini Black Metallic rally stripes, while the interior boasts heated Recaro seats and modern technology like Apple CarPlay and JBL premium audio [7][11] Market Position - ECD aims to redefine classic American muscle cars by offering bespoke builds that cater to individual preferences, setting itself apart from competitors who often use off-the-shelf components [8] - The company is already working on multiple commissions inspired by iconic Mustang models, indicating strong demand for its custom offerings [8]

Financial Performance - Revenue for the three months ended March 31, 2025, was $6.4 million, a decrease of approximately 8.57% compared to $7.0 million for the same period in 2024[176]. - The company reported a net loss of $2.8 million for the three months ended March 31, 2025, compared to a net loss of $2.9 million for the same period in 2024[176]. - Net revenues for the three months ended March 31, 2025, were $6,421,371, a decrease of 8.1% compared to $6,989,746 for the same period in 2024[215]. - Gross profit increased by 15.7% to $1,764,572 for the three months ended March 31, 2025, compared to $1,525,633 in 2024, driven by an increase in average selling price per vehicle[215][219]. - Adjusted EBITDA for the three months ended March 31, 2025, was $(877,790), a decrease of $442,900 compared to $(434,890) for the same period in 2024[199]. - The company reported a net loss of $(2,750,317) for the three months ended March 31, 2025, a slight improvement of 3.8% compared to $(2,859,862) in 2024[215]. - Total operating expenses increased by 47.0% to $3,719,080 for the three months ended March 31, 2025, compared to $2,529,711 in 2024[220]. - General and administrative expenses rose significantly by 58.3% to $3,393,542 for the three months ended March 31, 2025, compared to $2,143,550 in 2024[220]. - Interest expense increased by 63.4% to $(1,856,979) for the three months ended March 31, 2025, compared to $(1,136,300) in 2024[215]. - The company experienced a significant increase in provision for credit losses, reporting $9,295 for the three months ended March 31, 2025, compared to $0 in 2024[220]. Production and Operations - The company increased production by approximately 20% in 2023 utilizing one shift[194]. - The company plans to leverage the assets of Brand New Muscle Car (BNMC) for the production of Mustangs in 2024 and 2025, resulting in 6 Mustang contracts[195]. - The company opened new retail locations in West Palm Beach, FL, and Nantucket, MA, in 2025[196]. - The company plans to relocate quality and warranty services to a new facility in 2024, which will also serve as a warranty and used vehicle sales center[195]. - Vehicle builds accounted for 99.8% of total revenue for the three months ended March 31, 2025, with a decrease of $491,455 compared to the same period in 2024[216][217]. - Warranty and other revenue decreased by 94.6% to $4,290 for the three months ended March 31, 2025, compared to $79,050 in 2024[216]. Financial Position and Liquidity - The company anticipates sufficient resources to operate during 2024[193]. - As of March 31, 2025, the company had customer deposits amounting to $7,721,542 and deferred revenue of $2,766,821 for vehicles completed but not yet titled[228]. - Cash used in operating activities was $3,045,185 for the three months ended March 31, 2025, compared to $2,554,971 for the same period in 2024[240][241]. - The company had cash and cash equivalents of $677,473 as of March 31, 2025, with primary operating funds sourced from cash receipts from sales and loans payable[232]. - The company anticipates needing to raise additional financing through loans or equity raises to support future capital requirements, with no assurance that such financing will be available on commercially acceptable terms[238]. - Management has raised substantial doubt about the company's ability to continue as a going concern for the next twelve months due to liquidity concerns[239]. Debt and Financing - The company has a senior secured convertible note with a principal amount of $15,819,209, accruing interest at an annual rate of Prime Interest rate plus 5%[180]. - The December 2023 Convertible Note has a maturity date of December 12, 2026, and ranks senior to all outstanding and future indebtedness of the company[181]. - The company provided cash of $2,249,565 from financing activities for the three months ended March 31, 2025, primarily from the January 2025 Convertible Note and the Agile Loan[244]. - Total future lease obligations as of March 31, 2025, amount to $4,734,564, with the largest obligations in 2029 and beyond totaling $2,765,365[246]. - The Company entered into a Business Loan and Security Agreement on February 20, 2025, receiving a term loan of $1,575,000, with total interest accruing to $661,500[281]. - The Company entered into a new loan agreement on April 4, 2025, receiving a term loan of $1,824,300, with total interest accruing to $638,505[290]. - The net proceeds from the new loan were used to pay off the previous Agile Loan of $1,749,300[291]. - The Company entered into loan agreements with a private lender for two term loans totaling $300,000, with an interest rate of 24.99%[294]. - The Company authorized a new series of Series B Convertible Preferred Stock, allowing for the conversion of $1,284,881 of outstanding notes into shares[295]. Revenue Recognition and Tax Assets - The company recognizes revenue upon completion of vehicle builds and transfer of title, with product revenue recorded when the build is completed[256]. - Approximately 25% to 50% of the total contract consideration is received as an upfront payment, recorded as deferred revenue, with the remaining 50% to 75% billed upon completion[257]. - The company generates additional revenue through extended warranties and repair services, with service revenue recognized upon completion of the work[258][259]. - The company has a warranty reserve based on historical warranty costs per vehicle, which may require adjustments if actual costs differ from estimates[261]. - As of March 31, 2025, the company has recorded a valuation allowance against all deferred tax assets, indicating it is more likely than not that the benefits of these assets will not be recognized[269]. - The company evaluates the realizability of deferred tax assets quarterly, considering factors such as future taxable income and historical taxable income[268]. Strategic Initiatives - The Company signed a Strategic Partnership Agreement with One Drivers Club to launch a retail showroom in West Palm Beach, Florida, with a base rent of $225,000 per annum, subject to 4% annual increases[284]. - The Company will issue 725,000 unrestricted shares of capital stock to One Drivers Club upon completion of the showroom build-out, with a minimum value of $500,000[284]. - The Company issued 236,000 shares of common stock to an advisor for business advisory services on February 20, 2025[282]. - The Company appointed Keven Kastner as Chief Revenue Officer to drive sales and manage revenue streams[283]. Miscellaneous - The company’s financial instruments, such as cash and accounts receivable, approximate their carrying amounts due to their short maturity[270]. - The company’s warranty obligations are influenced by its product quality programs and historical warranty costs, which are monitored for potential adjustments[261]. - The Exchange Agreement allows the Lender to require the Company to participate in Additional Exchanges for converting outstanding amounts into Series B Preferred Stock[296]. - The Exchange Agreement is detailed in the Current Report on Form 8-K filed on May 15, 2025, as Exhibit 10.1[297]. - As a smaller reporting company, the Company is not required to provide quantitative and qualitative disclosures about market risk[298].

Core Insights - ECD Auto Design has introduced a new 700+ horsepower BLUEPRINT V8 engine, available as an upgrade for the Defender lineup and Range Rover Classic builds, marking a significant enhancement in performance options for luxury SUVs [2][9]. Company Overview - ECD Auto Design is a public company listed on NASDAQ under the ticker ECDA, specializing in the restoration of luxury vehicles, combining classic aesthetics with modern performance [10]. - Founded in 2013 by three British automotive enthusiasts, the company operates from a 100,000-square-foot facility in Kissimmee, Florida, employing 105 skilled craftsmen with extensive certifications [10]. Product Development - The new BLUEPRINT V8 engine is a response to client demand, integrating decades of experience with LS-based drivetrains to deliver a powerful yet classic driving experience [3][4]. - Key upgrades for the 700+ HP configuration include a new front-end rotating assembly, enhanced cooling systems, upgraded transmission and differentials, and refined ECU tuning [7][5]. Market Positioning - The 700HP option is designed for clients seeking a blend of classic design and modern performance, appealing to performance-focused collectors and luxury clients [9][8]. - ECD emphasizes a bespoke process, allowing clients to customize their vehicles extensively, with each build taking approximately 2,200 hours to complete [10].