Record Growth in 2020 – 21
Dymag® has shown record sales growth over the past 5 successive quarters as a result of carbon wheel orders received from niche OEMs and specialist tuners, and from leading aftermarket wheel companies for BX-F™ carbon aftermarket rims. The company is benefiting from the continuous expansion of its BX™ carbon rim range that now covers 18” to 23” with a range of ratings to suit lightweight supercars, heavier BEV and SUV vehicles.
Pebble Beach 2021: Radford P62 Lotus Gold Leaf
Niche OEM and Tuner Projects
During a challenging and uncertain 18 months, Dymag has won over 20 niche OEM wheel projects in the UK and USA and signed long-term supply contracts for BX-F™ carbon rims with 14 aftermarket wheel brands worldwide. Publicly announced wheel projects include the Lanzante McLaren Senna GTR and LM25 programmes, the GuntherWerks Speedster, the Radford P62 Lotus, Smit Brothers, JRM, Naran, Supercar System, with various other projects to be announced in 2021 and 2022.
Pebble Beach 2021 : Guntherwerks Porsche 993 Speedster with forged magnesium – BX-F carbon rim
Aftermarket BX-F Programme Expands
Dymag is now firmly established as the aftermarket carbon hybrid rim supplier to premium USA based wheel performance and luxury wheel brands Forgeline, Brixton, Vorsteiner, 1221, Strasse, MV Forged, RSV Forged and AL13, while Vossen will be launching their carbon wheel programme using Dymag BX-F™ rims in the near future. Meanwhile, in Europe and the Middle East, Dymag has announced partnerships with Rimstock (UK), mbDESIGN (Germany), Dillinger (Spain) and several other niche wheel brands in Switzerland, UK and Latin America which will also be announced shortly.
Dymag® BX-F™ Carbon Aftermarket Partner Brands
Aventador SVJ by AL13
Nowick Concept 8 Corvette C8 by Forgeline
Time to scale up…
Significantly, the company is now seeking to expand its niche OEM business into the major vehicle OEM brands working directly and with several international Tier 1 wheel manufacturers building on its growing reputation for superior technology, quality, design flexibility and modular 18” to 23” carbon rim range.
The strategic opportunity is now for Dymag to build its capacity from the current 4,000 rims per year to over 25,000 rims per year as quickly as possible for delivery in mid-2023 onwards.
Dymag is currently in the process of exploring mass production options and licensing opportunities in the Far East for its internationally patented BX™ technology, to supply both complete wheels and modular carbon rims to USA and Asia Pacific-based vehicle OEMs and Tier 1 wheel companies.
Chris Shelley, Executive Chairman of Dymag said:
“This has been quite a journey in which Dymag has uniquely developed a market leading high quality, durable product for both OEM and aftermarket customers. We have overcome major development and production challenges to become the carbon rim of choice by many aftermarket wheel manufacturers.
We have been developing a partnership opportunity with a carbon composites manufacturer experience of mass production for automotive, sporting goods and industrial products and hope to conclude our partnership agreement in the near future. As the company grows, it is moving into operating profitability, which will mark a unique achievement compared to several of our competitors; making this is a very exciting time for the company.
The company is growing in spite of the current uncertainty the automotive sector faces caused by the pandemic and the unprecedented drive towards CO2 reduction and phasing out of ICE powered vehicles. Demand from OEM and aftermarket segments is growing, with projects coming in from all over the globe.”
Tom de Lange, CEO said today:
“With the product development completed and having demonstrated the ability to meet the full TÜV and OEM test standards, we can now focus on the cost reduction programme and increasing output. We have a significant product cost reduction programme that will transform the affordability of carbon wheels over the coming 12 to 36 months.
We now have the opportunity to scale-up become carbon rim production capacity, as major OEMs accelerate adoption of lightweight carbon composite wheel technologies for their premium vehicle programmes, especially in the battery electric vehicle, sportscar, luxury SUV and light truck markets.
We have really turned the corner moving from R&D focus to full commercialisation. Thanks to our modular rim design and re-usable engineering philosophy, we are able to amortise tooling investment across multiple projects and customers, massively reducing development and product costs and cutting lead-times dramatically.”