Dymag Group designs and manufactures lightweight carbon hybrid and all-carbon wheels for cars and motorcycles. The British company plans to raise 5 million pounds of growth capital next year to form a new production line that will eventually be able to deliver 50,000 wheels per year.
The company provides complete wheels and carbon drums (rims) as sub-components to third-party after-sales companies in the United Kingdom, Europe, the United States and Japan. Its customers include global supercar brands, which are provided on an original equipment manufacturer (OEM) basis. Other OEM transactions are ongoing.
Dymag is ready to expand its production scale to provide its technology to other automotive businesses, thereby providing certain functional advantages that high-performance users already enjoy. The wheels are sturdy but lightweight, and have obvious carbon footprint advantages in terms of fuel economy and the range of electric vehicles each time they are fully charged.
Dymag plans to reach agreements with leading Tier 1 automotive suppliers to reduce costs and thereby increase production capacity. The latter focuses on wheels and structural composite parts in the automotive, industrial and aerospace sectors. The final agreement will allow this British technology to be applied to the wheels of other vehicles in the mid-market car and passenger car market.
The weight reduction benefits of carbon fiber wheels are enormous; estimates by a leading sports car OEM manufacturer indicate that Dymag Carbon Hybrid wheels are generally at least 40% lighter than equivalent cast aluminum wheels.
Dymag's aftermarket wheels are designed and manufactured in accordance with internationally recognized standards and are suitable for car brands, including Ferrari, McLaren, Porsche, Lamborghini and Jaguar F-Type of Jaguar Land Rover. The company's technology has obtained a full UK patent for its unique design, which uses different materials to reinforce the rim to create a complete wheel that is lighter, stronger and faster than traditional designs. The grinding wheel is very durable and can run safely under high-impact conditions (such as potholes).
Chris Shelley, CEO of Dymag, said: "This technology has now begun to enter mainstream car production. This technology has been developed and verified in advanced super car applications. Currently, the number of wheels is relatively small in hundreds of monthly We are preparing to deliver a plan to expand the monthly production scale to thousands. The planned increase in capacity will also cause prices to drop rapidly, making prices economically viable for all passenger cars.
"International competition is not great, but it is also preparing for the "change" in wheel technology. An Australian company recently raised US$50 million in sales expectations in the future automotive supply chain market, an important niche market. We have been working with many Interested investors communicated and expanded our plan to realize their ambitions and the opportunities we see in the future market."