EV Technology acquiring Fablink – Just Auto
Fablink Group said it had agreed to be acquired by EV Technology Group.
The acquisition was seen as strategically important for EV Technology as it gives it access to Fablink in-house manufacturing and engineering expertise.
Fablink said it had built up “a market-leading position as a Tier 1 supplier to the automotive, transport and off-highway sectors, including leading global OEMs” such as Jaguar Land Rover, JCB, DAF and CAT.
Fablink also encompasses Streamline Automotive, a new division which provides specialist low and medium volume electric vehicle manufacturers with “turnkey” clean build vehicle assembly capability.
It is the manufacturing partner of Moke International, a company that recently agreed to become an EV Technology house brand, and recently launched the electric Moke.
Richard Westley, CEO, and founder of Fablink, will retain his current role in the new structure and will also join the EV Technology Group board as chief operating officer on completion of the acquisition. Fablink will also retain its current management team, facilities and all its 750 strong workforce.
Westley said in a statement: “The acquisition will allow us to accelerate the delivery of our strategies in support of our existing global OEM customers… and also provide a platform to further develop the business as we look to support EV Technology Group’s own brands.”
EV Technology Group CEO Wouter Witvoet added: “Having access to Fablink’s 750 world-class electric vehicle manufacturing and engineering experts in-house makes us more competitive, efficient, and agile.”
Gloss