Newly Secured Electric Vehicle Contract Accelerates Growth
| Source: Shapeways, Inc.
NEW YORK, Sept. 22, 2023 (GLOBE NEWSWIRE) — Shapeways Holdings, Inc. (NASDAQ: SHPW), a global leader in the large and fast-growing digital manufacturing industry, announced today accelerated growth within its multi-million-dollar automotive business—most recently in the electric vehicle (EV) sector. Shapeways Enterprise Manufacturing Solutions signed a contract for over a quarter of a million dollars, reinforcing the company’s continued expansion and dedicated strategy in the automotive and EV industries.
“This new contract underscores our dedication to advancing sustainable transportation,” said John Tenbusch, Sales Director, Automotive Vertical for Shapeways. “Through partnerships with key industry leaders, we’re ensuring that our technological capabilities translate to real-world impact.”
Data from MarketsandMarkets Research projects the electric vehicle market will reach $951.9B by 2030, with the commercial EV sector seeing a 22.5% CAGR from 2023 to 2030. This trajectory indicates a major shift toward electric vehicles, with Shapeways playing a role in manufacturing critical components for commercial large-scale electric delivery vehicles.
“We share our clients’ vision for the production of quality, high-performance parts,” said Aidan O’Sullivan, GM of Enterprise Manufacturing Solutions for Shapeways. “This commitment becomes more visible in our growing portfolio within the electric vehicle sector.”
Drawing from recent momentum in securing contracts from Tier 1 automotive suppliers, Shapeways has demonstrated the ability to combine enterprise-level manufacturing with high-precision traditional and additive manufacturing technologies. This range of capabilities appeals to manufacturers in automotive, as well as medical, robotics, and other applications.
This recent contract adds another layer to the company’s strong presence in the EV market. The demand for Shapeways’ manufacturing solutions in applications like batteries for large electric vehicles continues to grow, solidifying the company’s role in this rapidly expanding market.
Shapeways is a global leader in digital manufacturing, combining additive and traditional technologies with proprietary software solutions designed for other manufacturers and their customers, reducing costs, and improving supply chains. Partnering with hundreds of companies engaged in industrial applications like automotive, medical, and transportation, as well as aerospace and defense, Shapeways helps them scale their businesses, solve complex problems in product development, and achieve critical manufacturing milestones.
With access to a dozen additive technologies, six conventional manufacturing methods, and hundreds of materials and finishes, Shapeways ensures production of quality parts with the right technologies, at the right time, and at the right cost.
With ISO 9001-compliant manufacturing facilities in Livonia and Charlotte, Michigan, and Eindhoven, the Netherlands, Shapeways operates globally and has delivered more than 24 million parts to more than 1 million customers in more than 180 countries. For more information, visit www.shapeways.com.