Automotive Manufacturing and Motorsport Engineering
Strategic Profile
The company participates in the FIA Formula 2 championship and FIA Formula 3 championship under the HWA RACELAB name and in the ABB FIA Formula E championship as a racing team for the Mercedes-Benz EQ Formula E team. HWA engages in the production of Mercedes-AMG GT4 and Mercedes-AMG GT3 vehicles.
Cyborg Score Rationale
2024 revenue declined 14.77% to €73.15 million, with losses of -€20.96 million (4358.9% worse than 2023). The company faces profitability challenges despite strong brand partnerships with Mercedes-AMG.
Top Insights
Heavy reliance on Mercedes-AMG and Daimler partnerships for manufacturing and racing operations
Dual revenue model combining prestigious motorsport racing programs with commercial vehicle component manufacturing
Recent financial deterioration with significant year-over-year losses suggests operational or market challenges
Market cap of €30 million indicates small-cap status with limited liquidity
Named Competitors
Racing Engineering — FIA Formula 2 and Formula 3 competitor
Premium Automotive Components — Automotive engineering and components supplier
Formula E Teams — Electric racing and advanced powertrain development
Recent Developments
(2024) Revenue declined 14.77% to €73.15 million with losses of €20.96 million
(2025) Continued participation in FIA Formula 2, Formula 3, and Formula E championships
(2026) Active operations as Mercedes-Benz EQ Formula E team partner
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