AEM PERFORMANCE ELECTRONICS JOINS FUEL2ELECTRIC WITH THE AIM OF REVOLUTIONIZING EV CONVERSIONS AND EMPOWERING CAR AND TRUCK ENTHUSIASTS
Hawthorne, CA, August 9th 2023 – AEM Performance Electronics, a developer and supplier of electronic control and monitoring systems for performance automotive applications and subsidiary of Holley Inc. (NYSE:HLLY), proudly announces its plan to collaborate on EV conversions with Fuel2Electric, an innovative platform designed to streamline EV conversions for car and truck enthusiasts, through a distribution arrangement. This exciting collaboration is anticipated to bring a range of benefits that will reshape the landscape of EV conversions, providing a seamless and efficient experience for car and truck enthusiasts worldwide.
The distribution arrangement between AEM EV and Fuel2Electric aims to create a one-stop solution for all EV conversion needs, ensuring a hassle-free and comprehensive approach for automotive enthusiasts seeking to electrify their classic cars and trucks. With the rapidly increasing interest in electric vehicles, this collaborative arrangement is intended to cater to the growing demand for EV conversion parts and information.
Key Anticipated Benefits of the AEM EV and Fuel2Electric Distribution Arrangement:
- Expanded EV Product Line Offerings: Car and truck enthusiasts will be able to access an extended array of top-tier EV conversion products, showcasing the latest cutting-edge technologies to transform their beloved classic cars into electric vehicles.
- Dedicated EV Conversion Parts and Information: By specializing exclusively in EV conversion parts and information, the collaboration is intended to provide customers with access to the most accurate and up-to-date resources, making their conversion journey smoother and more rewarding.
- Streamlined One-Stop Shopping Experience: Fuel2Electric introduces a groundbreaking feature where enthusiasts can submit their EV conversion project online and receive multiple proposals from reputable vendors, all in one place. This innovative approach empowers customers to compare and choose the best options, simplifying the selection process significantly.
"We are thrilled to bring the AEM EV offering onto the Fuel2Electric platform and help supercharge a growing interest in EV conversions," said Vinny Nimmagadda, EVP, Corporate Development and New Ventures of Holley. "This collaboration furthers Holley and AEM’s commitment to steward the performance aftermarket and grow the EV enthusiast community."
John Wilson, Co-founder of Fuel2Electric, expressed equal enthusiasm about the collaborative arrangement: "Fuel2Electric was founded to make EV conversions accessible to all car enthusiasts, and we are excited to join forces with AEM Performance Electronics to enhance our offerings. Our integrated platform will enable customers to embark on their electrification journey with confidence, knowing they have the best products and services at their fingertips."
Both AEM Performance Electronics, a subsidiary of Holley (NYSE:HLLY), and Fuel2Electric are excited to embark on this venture together. We believe this collaboration represents a significant milestone for the EV conversion industry, redefining how enthusiasts approach their EV conversion projects.
For more information about AEM Performance Electronics and Fuel2Electric's collaborative arrangement or to explore the comprehensive range of EV conversion products and services, please visit www.fuel2electric.com.
Holley Inc. (NYSE: HLLY) is a leading designer, marketer, and manufacturer of high-performance products for car and truck enthusiasts. Holley offers a leading portfolio of iconic brands that deliver innovation and inspiration to a large and diverse community of millions of avid automotive enthusiasts who are passionate about the performance and personalization of their classic and modern cars. Holley has disrupted the performance category by putting the enthusiast consumer first, developing innovative new products, and building a robust M&A process that has added meaningful scale and diversity to its platform. For more information on Holley, visit https://www.holley.com.
Holley Investor Relations Contact:
Ross Collins or Stephen Poe
Alpha IR Group
Fuel2Electric is an innovative online platform dedicated exclusively to EV conversion parts, projects, and vendors. By connecting enthusiasts with reputable vendors and providing a streamlined experience, Fuel2Electric aims to revolutionize the EV conversion landscape, making it easier and more accessible for all car enthusiasts.
Fuel2Electric Investor Relations and Media Contact:
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Holley’s future financial or operating performance. Examples of these statements include, but are not limited to, statements regarding the anticipated results and benefits of the collaborative arrangement between AEM EV and Fuel2Electric. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “will,” “continue,” “estimate,” “see,” “look,” “anticipate,” “believe,” “predict,” “or” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Holley and its management, are inherently uncertain. These include the risks and uncertainties associated with the collaborative arrangement between AEM EV and Fuel2Electric, including, but not limited to, the occurrence of any event, change or other circumstance that adversely effects the EV conversion industry or the market for EV conversions. Other risks and uncertainties that could cause Holley’s results to differ are described in the filings made from time to time by Holley with the U.S. Securities and Exchange Commission and include the risk factors and other risks described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and its Quarterly Reports on Form 10-Q and subsequent filings. Although Holley believes the expectations reflected in the forward-looking statements are reasonable, nothing in this press release should be regarded as a representation by any person that the forward-looking statements or projections set forth herein will be achieved or that any of the contemplated results of such forward looking statements or projections will be achieved. There may be additional risks that Holley presently does not know or that Holley currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Holley undertakes no duty to update these forward-looking statements, except as otherwise required by law.