Navitas stock soars as company advances 800V tech for NVIDIA AI platforms
KISSIMMEE, Fla. - ECD Automotive Design, a Nasdaq-listed company (NASDAQ:ECDA) specializing in luxury vehicle restorations with annual revenue of $25.16 million, announced Thursday the completion of its first Porsche restoration project named "Gravette," based on a 1990s-era Porsche 911 (993). According to InvestingPro analysis, the company is currently undervalued despite facing significant operational challenges.
The custom build features a turbocharged M64 engine estimated to produce 500 horsepower, paired with an upgraded 6-speed manual transmission and sport exhaust system. The vehicle sports an Icy White exterior with Agate Gray metallic accents, 18-inch RS-style wheels, Brembo brakes, and Bilstein sport suspension components.
"Project Gravette is a true celebration of Porsche’s golden era, elevated through the lens of modern performance and luxury," said Elliot Humble, CTO of ECD Automotive Design, according to the company’s press release.
The interior includes Recaro Cross Sportster CS front seats with custom leather weave and metal grommet inserts, alongside OEM-style rear seats. Modern amenities include a touchscreen stereo with Focal premium audio, Bluetooth connectivity, heated seats, and a digital rearview mirror.
ECD Automotive Design, which describes itself as the world’s largest Land Rover and Jaguar restoration company, has previously focused on custom builds of Land Rovers, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs. The company operates from a 100,000-square-foot facility in Kissimmee, Florida, with 105 employees.
The company states that each vehicle is hand-built over approximately 2,200 hours by ASE-certified craftsmen. ECD Automotive Design also maintains a logistics center in the United Kingdom to source vintage vehicles for restoration. With a current market capitalization of $5.39 million and revenue growth of 8.48% over the last twelve months, the company shows potential despite its challenging financial position. InvestingPro subscribers can access 15+ additional exclusive insights about ECDA’s financial health and growth prospects.
The company did not disclose pricing for the custom Porsche 911 in its announcement. While analysts expect improved profitability this year, the company’s current ratio of 0.58 indicates potential liquidity challenges. For comprehensive analysis and detailed financial metrics, investors can access ECDA’s full Pro Research Report, available exclusively on InvestingPro.
In other recent news, ECD Automotive Design has announced its entry into the Porsche 911 restoration and customization market through its Boutique Division. This expansion follows the company’s earlier venture into Ford Mustang restorations. Additionally, ECD Automotive Design has settled legal fees of up to $2,090,000 with Loeb & Loeb by issuing a common stock purchase warrant, allowing the firm to acquire 550,000 shares at an exercise price of $0.01 per share. The company has also launched a new VIP Test Drive program, offering potential clients the opportunity to experience custom-restored luxury vehicles at their homes or offices within a 75-mile radius of its locations.
Furthermore, ECD Automotive Design issued a correction regarding its Nasdaq listing update, clarifying that $13.7 million of debt was converted to preferred equity, not the previously reported $15.5 million. The Nasdaq Hearings Panel has granted the company a conditional extension to maintain its listing, with specific conditions to be met, including a minimum closing bid price and stockholder equity requirements by 2025 and 2026, respectively. These developments reflect the company’s ongoing strategic initiatives and financial adjustments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.