HWA AG LOSES FORMULA E MOTORSPORT PROJECT
Nov 04, 2020
As a result, the cooperation with HWA AG as a service provider for the Mercedes-Benz EQ Formula E Team will come to an end after the next season. However, HWA AG will continue to provide certain smaller-scale engineering services.
The Management Board of HWA AG is immediately evaluating options to compensate for this future loss of revenue within its Motorsport business segment.
Daimler AG’s decision is not related to the performance of HWA AG in the ABB FIA Formula E Championship or to the quality of its services. Cooperation with Daimler AG in the Vehicles / Vehicle Components business segment will continue unchanged.
Contact:
Investor Relations
HWA AG
Marc Schimmelpfennig
Benzstraße 8
71563 Affalterbach
Germany
Phone: +49 (0) 7144 8717-279
Fax: +49 (0) 7144 8718-111
E-mail: ir@hwaag.com
Company Profile of HWA AG
HWA AG is an independent 360-degree engineering specialist in the fields of motorsport and high-performance vehicles. Founded in 1998 by Hans Werner Aufrecht, the company is headquartered in Affalterbach, Germany, and currently employs around 300 highly qualified professionals.
All products and services of HWA AG are guided by the principle ENGINEERING SPEED. The company’s mission is to develop the highest-quality and most effective solutions to help its partners and customers achieve their goals faster. The service portfolio ranges from the design and engineering of all vehicle components to the development and production of complete vehicles, complemented by logistics, aftersales and support services.