Original equipment manufacturer (OEM) Desktop Metal (NYSE: DM) announced that the company has received a $9 million order from a “large German car manufacturer.” Although it is not clear which platform was purchased in particular, DM noted in the press release that the order was for a metal binder jetting system.
According to DM, this is the second platform ordered by the same German company in less than a year, which brings the purchases by said unnamed car manufacturer to a total of $16.9 million during that timeframe. This latest sale was for a platform that will be used in the production of powertrain components for the commercial auto market.
It is not news that, against the backdrop of a generally dismal 2022 for American equity markets, OEMs in the AM sector have had an especially difficult year. Unsurprisingly, companies such as DM, which went public not long before markets saw their peaks in 2021, have endured the most challenging operating conditions.
In a recent interview with 3DPrint.com’s editor-in-chief, Michael Molitch-Hou, Fulop acknowledged the macro difficulties that all companies have faced this year. Echoing financial analysts’ increasingly pessimistic consensus about the trajectory of the global economy, Fulop cautioned that the unforgiving fiscal environment is likely to continue into 2023.
On the other hand, I’ve noted before that, for the AM sector, there is a silver lining to take away from a rough 2022: any company that survives it will have proven its tenacity and adaptability to investors. As for DM, the European auto market could turn out to be one of the best sectors for an AM hardware firm to have exposure to.
Put simply, no one knows what will happen next year. In this sense, at least for some companies, there is perhaps just as much reason to think that the bleakness of 2022 is a sign that a bottom is being reached, as there is to think that it forebodes a far worse financial climate in the near-term.
Images courtesy of Desktop Metal
Subscribe to Our Email Newsletter
Stay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.
You May Also Like
Solize Debuts on the Tokyo Stock Exchange: A Milestone for Japan’s 3D Printing Industry
In the dynamic landscape of Japan’s engineering and manufacturing sectors, Solize Corporation has emerged as a beacon of innovation, particularly in the realm of 3D printing technologies. On February 7,...
3D Printing Webinar and Event Roundup: January 28, 2024
It’s another busy week of 3D printing industry webinars and events! Stratasys continues its advanced training, while Nexa3D and Headmade Materials will discuss ColdMetalFusion in a webinar. 3DHEALS is hosting...
Electronics 3D Printing Company Electroninks Partners with Japan’s SAKATA INX
Electroninks, the Austin-based manufacturer of metal complex inks for electronics applications, has partnered with SAKATA INX, a Japanese company that manufactures a variety of inks, including materials for the electronics...
EPSON and Development Bank of Japan Bet on 3DEO’s Metal 3D Printing Tech
Japanese investment into the additive manufacturing (AM) sector is increasing and it’s bringing new, powerful players to the table. Los Angeles-based 3DEO announced a substantial investment from the Development Bank...
Upload your 3D Models and get them printed quickly and efficiently.