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.
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.
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) and several other niche wheel brands in Switzerland, UK and Latin America which will also be announced shortly.
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.”
Started in the early 1970s, Dymag quickly moved to the technology pinnacle developing diecast magnesium wheels for Formula One and inventing the world’s first three spoke Magnesium motorcycle racing wheels. Dymag’s rich heritage on four and two wheels ranges from Formula 1, IndyCar, Rally/RAID, Moto GP, Superbikes, Isle of Man TT champions and race winners driving and riding to victory on “Dymags”, as well as many production Supercar manufacturers.
Building on their success, Dymag expanded into manufacturing Forged Magnesium wheels, Forged Aluminium wheels and finally developed lightweight Carbon Composite motorcycle and auto wheels with an equally enthusiastic response from bike and auto owners around the world.
The company was re-launched in 2011 after Chairman Chris Shelley and other key former employees took control of Dymag. Very soon after it was successfully involved in re-entering the motorcycle racing and aftermarket, supplying the winning BMW S1000RR ridden by Michael Dunlop in the 2014 Isle of Man TT, and British Superbike Teams, a victory repeated in 2016 with the faster ever lap at the IOM TT Senior Superbike race of 133.393mph average speed, and again in 2017 this time on the new Suzuki GSXR. In 2018 Dean Harrison became the first ever rider to average 134mph round the IoM TT course supported by Dymag. 2018 also saw Dymag support Leon Haslam and the Bournemouth Kawasaki team as they won the BSB championship, as well as success at Pike’s Peak in the USA and as official wheel provider to Kramer as it won the GP2 title in its debut season.
In 2021, Dymag worked with Forgeline to supply its BX-F carbon rims to the world’s fastest production car, the SSC Tuatara breaking the world record at 286mph.
Always at the forefront of materials technology over the past 30 years Dymag has progressed from its beginnings using diecast magnesium into forged magnesium and aluminium, before establishing itself as the world’s leading carbon auto and motorcycle wheel manufacturer in the 90s and 2000s.
Bob Dover, former CEO and Chairman of JaguarLandRover and current Chairman of the advanced Propulsion Centre has recently retired as Dymag Non-Executive Chairman, giving way to company founder Chris Shelley as Executive Chairman, but Bob has agreed to remain a Non-Executive Director and special adviser to the Board. Tom de Lange, formerly Managing Director has been promoted to CEO of Dymag Group.
For further information please contact:
Chris Shelley, Executive Chairman
Tel: +44 (0)7850 379575
Video Link: https://www.youtube.com/embed/UNPUwXAn2fc