Carbon Revolution, an Australian vendor of carbon-fiber wheels for leading supercar brands like Ferrari, announced impending bankruptcy around two years ago and severed a number of contracts to stay afloat. It has now received fresh funding from U.S.-based Orion Infrastructure Capital, meaning that Ford, Chevrolet, JLR and Ferrari may once again look forward to getting their orders fulfilled.
Aside from the brands named above, EV companies took active interest in these innovative lightweight wheels. The idea was to minimize the unsprung mass while also keeping down the weight of the entire EV, maximizing its battery range. With the electric car industry booming by 2023, Carbon Revolution optimistically reported having preorders worth a total of U.S. $460,000,000.
Back then, the company had looked forward to making these wheels an industrywide standard for luxury vehicles. However, as the EV segment started to cool down and the U.S.-imposed tariffs increased the pressure on the market, it ended up posting $350,000,000 in debts. Having its industrial capacities in Australia exacerbated the issue with logistical troubles.
It’s unclear how much investment Carbon Revolution has received so far, but it posted a cheerful heads-up note earlier this week, claiming that the money was enough to “implement strategic plans and improve business.” Aside from that, it claimed that the luxury wheel market was on the rise again this year, meaning it was high time to reenter the game with new and exciting products.