ECD Automotive announces initiatives to right-size cost structure

ECD Automotive Design (ECDA) shared updates on a series of proactive initiatives designed to enhance operational efficiency, optimize working capital, and strengthen the company’s overall financial position. As part of its ongoing commitment to disciplined growth, the company recently completed a comprehensive review of its cost structure and capital allocation. Key actions include: Operational Efficiency: Undergone a holistic bottoms-up cost savings analysis to identify and eliminate meaningful spend. Inventory Optimization: Uncovered a broad set of opportunities to enhance working capital velocity through a strategic review of inventory management practices. Lender Support: Negotiated a waiver with existing lenders, resolving existing defaults, aligning covenants with the current business plan, and securing a 12-month grace period from debt service obligations. “These efforts reflect our continued dedication to maximizing operational efficiency and exercising prudent capital management, positioning us to unlock additional resources that will fuel growth in the business,” said Ben Piggott, CFO of ECD Automotive Design. “ECDA was founded with a commitment to redefining the luxury restomod space. We believe that maintaining a leaner, more agile cost structure, will give us a better foundation to execute our long-term strategy – continuing to deliver iconic custom vehicles to our customers while creating long-term value for our shareholders.” ECDA said it remains focused on sustainable value creation and will continue to evaluate and pursue opportunities to drive efficiency and improve its cash position.