Evtec Aluminium Limited has been awarded a supply contract with Jaguar Land Rover (JLR) to supply parts for a new line of Jaguar Electric Vehicles.

It will be a single-source supplier for key components in the EV powertrain of the new line of electric vehicles being introduced by Jaguar.

The contract is expected to provide £52 million(US$67 million) in new sales to Evtec excluding after market and model life extensions.

Earlier this year it was announced that Evtec had acquired UK-based JVM Castings, which supplied body castings and powertrain assemblies to Jaguar Landrover and its predecessor firms for 60 years.

Evtec is the planned acquisition target of Blackboxstocks Inc (Blackbox), a fintech and company..

Evtec Chairman, David Roberts, commented: “We are delighted to be a crucial supply partner in the transition to all-electric by JLR and to further extend our reach around the EV power pack and supporting architecture supply chain with them.”

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By GlobalData

Blackbox CEO, Gust Kepler said: “We are very pleased to see the growing order book for Evtec as we work toward completion of this merger.”

Jaguar’s new line of luxury vehicles will include a 4-door GT model in addition to luxury sedan that are expected to have a range of over 435 miles and be capable of fast charging 200 miles in around 15 minutes.