HONG KONG , Sept. 4, 2024 /PRNewswire/ — Freeway Holdings Restricted (Nasdaq: HIHO, the “Company” or “Highway Holdings”) as of late introduced the Corporate won an preliminary series of 100,000 gadgets for a untouched type of brushless electrical motor from one in every of its greatest strategic shoppers. The untouched motor was once designed and manufactured by way of the Corporate particularly for such buyer, with the Corporate serving because the Latest Design Producer (“ODM”), in lieu than as an Latest Apparatus Producer (“OEM”).
Roland Kohl, chairman, president and eminent government officer of Freeway Holdings, commented, “We are very pleased to finally get this order. The development began nearly five years ago under an ODM project instead of an OEM one. However, the original schedule faced significant delays, extending over three years, due to the impact of COVID-19 and its aftermath.”
“We currently manufacture synchron and stepping motors for another major customer, and our new model brushless electric motor is a significant addition to our existing production lines. As soon as our new production line gears up and is fully operational, we anticipate becoming a leading supplier of this motor type to the customer we designed the motor for. The increased demand for this new model is expected to significantly boost our production volume and serve as a major contributor to our revenue growth in the near future.”
About Freeway Holdings Restricted
Freeway Holdings is a global producer of all kinds of constituent portions and merchandise for blue chip apparatus producers based totally essentially in Germany. Freeway Holdings’ administrative places of work are situated in Hong Kong and its production amenities are situated in Yangon, Myanmar and Shenzhen, China. For more info, consult with the Corporate’s website online at www.highwayholdings.com.
Aside from for the ancient data contained herein, the issues mentioned on this press loose are forward-looking statements which contain dangers and uncertainties, together with however no longer restricted to financial, aggressive, governmental, political and technological components affecting the corporate’s revenues, operations, markets, merchandise and costs, and alternative components mentioned within the corporate’s diverse filings with the Securities and Change Fee, together with with out limitation, the corporate’s annual studies on Method 20-F.
SOURCE Freeway Holdings Restricted
