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Highway Holdings Receives Initial Customer Order for New Brushless Electric Motor
Highway Holdings (Nasdaq: HIHO) has received an initial order of 100,000 unitsfor a new model of brushless electric motor from one of its largest strategic customers. The company designed and manufactured this motor specifically for the customer, acting as an Original Design Manufacturer (ODM) rather than an Original Equipment Manufacturer (OEM).
Highway Holdings (Nasdaq: HIHO) has received an initial order of 100,000 unitsfor a new model of brushless electric motor from one of its largest strategic customers. The company designed and manufactured this motor specifically for the customer, acting as an Original Design Manufacturer (ODM) rather than an Original Equipment Manufacturer (OEM).
The development of this motor began nearly five years ago but faced significant delays due to COVID-19. Highway Holdings already manufactures synchron and stepping motors for another major customer, and this new brushless electric motor is expected to be a significant addition to their production lines.
The company anticipates becoming a leading supplier of this motor type to the customer, with the increased demand expected to boost production volume and contribute significantly to revenue growth in the near future.
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