Hwa Ag
HWA AG is a German automotive engineering firm that designs, develops, and small-series manufactures motorsport-derived high-performance vehicles (HWA EVO family) and provides specialized engineering services to racing teams, OEMs, and luxury vehicle buyers.
- Company typePublic
- Founded1998
- HeadquartersAffalterbach, Germany
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Hwa Ag does
HWA AG is a publicly listed German automotive engineering company headquartered in Affalterbach, Germany, founded in 1998 by Hans Werner Aufrecht. The company operates from a 17,500 m² facility and employs approximately 300 staff focused on motorsport-derived high-performance vehicle development and small-series manufacturing. Its core product portfolio comprises street-legal supercars — the HWA EVO, HWA EVO.R, HWA EVO.R 24H, and Sonderedition special models — alongside engineering services covering complete vehicle development, engine development, electronics development, prototyping, homologation, and special painting/wrapping, with annual capacity of roughly 100 vehicles.
Revenue is generated through two primary streams: engineering services (development, prototyping, motorsport support) and small-series vehicle sales, supplemented by after-sales services such as replacement parts, service, and revisions. The company pursues a sales-led go-to-market model, reaching customers directly and through a curated network of regional sales partners (Autohaus Velden, BingoSports, HK Motorcars, McLaren Toronto, Quadriam Collections) plus wholly-owned sales subsidiaries in the United States (HWA US Inc., Delaware) and Australia (HWA AUS Pty Ltd., Victoria). Customer segments split between motorsport teams and racing programs, luxury high-performance vehicle buyers, and automotive manufacturers requiring specialized development support. Historically the largest commercial anchor was the 15-year Mercedes-AMG customer motorsport partnership, which ended on December 31, 2025; its status as the company's defining commercial relationship is now undergoing transition, with negotiations to sell the unit having ended without conclusion. HWA reported FY2025 revenue of €75.4 million (up from €66.4 million in FY2024) and EBIT of -€6.7 million, with the negative result materially influenced by HWA EVO supercar development costs; the company's majority ownership remains concentrated with founders Aufrecht GmbH and Dörflinger Management & Beteiligungs GmbH, which together control over 75% of shares.
Hwa Ag firmographics
Firmographics- Name
- Hwa Ag
- Legal name
- HWA AG
- Website
- https://hwaag.com
- Company type
- Public
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- HWA AG is a German automotive engineering firm that designs, develops, and small-series manufactures motorsport-derived high-performance vehicles (HWA EVO family) and provides specialized engineering services to racing teams, OEMs, and luxury vehicle buyers.
- Ownership category
- akta.pro rank
Where Hwa Ag is headquartered
LocationHeadquarters
- HQ city
- Affalterbach
- HQ country
- Germany
- HQ region
- Europe
Offices3 records
Markets served
Hwa Ag business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Supply Chain, Infrastructure, Marketing or Sales
Revenue model
- Engineering Services: Development, prototyping, and engineering services for automotive industry including engine development, electronics, and complete vehicle development
- Vehicle Production and Sales: Small-series production of high-performance vehicles including HWA EVO, HWA EVO.R, and special editions. Also includes the De Tomaso P72 project.
- After-Sales and Support Services: Replacement parts, service, special painting and wrapping, repairs and revisions for motorsport vehicles and street-legal sports cars
- Motorsport Programs: Motorsport support including the HWA EVO.R racing vehicle program, customer racing support
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Hwa Ag product offering
Product offeringCore offering
HWA AG is an automotive engineering company that develops and produces high-performance vehicles and motorsport technology. The company provides end-to-end engineering services — complete vehicle development, engine development, electronics development, prototyping, homologation, and small-series manufacturing — alongside its own limited-edition supercar models (HWA EVO, HWA EVO.R, HWA EVO.R 24H, Sonderedition). Operations are anchored at the Affalterbach headquarters with a 17,500 m² facility producing up to 100 vehicles per year, sold through a global sales partner network.
Product overview
HWA AG is an automotive engineering company and development partner for motorsport and high-performance vehicles based in Affalterbach, Germany. The company offers a portfolio of street-legal supercars (HWA EVO, HWA EVO.R, HWA EVO.R 24H, Sonderedition) and comprehensive engineering services including small-series manufacturing, prototype construction, complete vehicle development, engine development, electronics development, homologation, and special painting/wrapping services. The vehicles are developed with direct connection to real motorsport experience and are manufactured in limited quantities at the Affalterbach facility.
Differentiator
Problem solved
Functional benefit
Brands
- HWA EVO: Street-legal essence from motorsport and development - the core supercar model
- HWA EVO.R
- HWA EVO.R 24H
- Sonderedition
Products and services
- HWA EVO The street-legal HWA EVO is the company's core supercar model — a road-approved high-performance vehicle with direct connection to HWA's motorsport experience, precision engineering, and modern vehicle technology. Production is part of an exclusive small-series run of up to 100 vehicles per year at the Affalterbach facility.
- HWA EVO.R The HWA EVO.R carries racing DNA while remaining approved for street use, designed for both road and motorsport competition as part of HWA's next-generation racing platform.
- HWA EVO.R 24H The HWA EVO.R 24H is a further-limited, more uncompromising endurance racing version of the EVO.R developed specifically for 24-hour endurance competition.
- Sonderedition (Special Edition) The Sonderedition line encompasses exclusive limited-edition vehicle configurations with special features and bespoke variants beyond HWA's standard EVO and EVO.R production models.
- Small-Series Manufacturing (Kleinserienfertigung) Small-series manufacturing service providing tailored vehicle production for automotive clients, from first pre-series vehicles to limited production runs with high manufacturing quality and precisely tuned processes. Production capacity up to 100 vehicles per year.
- Prototype Construction (Prototypenbau) Prototype construction service covering the development and manufacturing of innovative prototypes for automotive clients and internal vehicle programs.
- Complete Vehicle Development (Gesamtfahrzeugentwicklung) Full vehicle development service for automotive clients, from design and engineering through to integration of all systems, leveraging HWA's motorsport and high-performance vehicle development expertise.
- Engine Development (Motorenentwicklung) Engine development service focused on powerful and efficient drive solutions for high-performance automotive applications.
- Electronics Development (Elektronikentwicklung) Automotive electronics development service delivering electronics engineered for maximum performance and safety in high-performance vehicle programs.
- Homologation Vehicle homologation service providing compliance certification for automotive clients according to national and international regulatory standards.
- Special Painting & Wrapping (Sonderlackierung & Folierung) Custom painting and vehicle wrapping service for unique vehicle appearances, available to HWA's own motorsport and road cars as well as client vehicles.
Quantifiable outcome
- 11 DTM driver titles and 180 race wins since 1988
- +2 more outcomes
Companies that use Hwa Ag
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Hwa Ag technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Hwa Ag partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- RAVENOLcoreRAVENOL is the exclusive lubricant partner of HWA, supporting both the motorsport program around the HWA EVO.R at Nürburgring and the original equipment of the road vehicle HWA EVO.
- Mercedes-AMG GmbHcore15-year partnership in international customer motorsport ended December 31, 2025. HWA was development partner for Mercedes-AMG GT customer racing. Negotiations for sale of customer motorsport business took place but ended without conclusion.
- Autohaus VeldenminorSales partner for HWA vehicles - providing sales consultation and customer service for the HWA EVO in their region.
- BingoSportsminorSales partner for HWA vehicles - providing sales consultation and customer service for the HWA EVO in their region.
- HK MotorcarsminorSales partner for HWA vehicles - providing sales consultation and customer service for the HWA EVO in their region.
- McLaren TorontominorSales partner for HWA vehicles - providing sales consultation and customer service for the HWA EVO in their region.
- Quadriam CollectionsminorSales partner for HWA vehicles - providing sales consultation and customer service for the HWA EVO in their region.
- De TomasominorHWA supporting De Tomaso in building P72 prototype vehicles, focusing on development and testing activities.
Scale indicators11 records
Recent moves10 records
Expansion highlights5 records
Hwa Ag competitors and assessment
Company assessmentDirect peers
- RUF Automobile: Germany-based small-series manufacturer of high-performance Porsche-based sports cars and engineering services. Most directly comparable to HWA in terms of small-series supercar manufacturing, exclusive limited production, and motorsport-derived technology.
- Brabus: German high-performance vehicle manufacturer and engineering house, specializing in Mercedes-based vehicles and small-series production. Closely comparable to HWA given the shared Mercedes-AMG heritage and small-series supercar business model.
- Pagani Automobili: Italian small-series hypercar manufacturer with deep motorsport engineering DNA. Comparable to HWA in exclusive small-series supercar production, complete in-house development, and motorsport-to-road technology transfer.
- Callaway Cars: US-based small-series high-performance vehicle manufacturer and engineering services company. Comparable to HWA through its combination of limited-edition supercars, OEM engineering services, and motorsport involvement.
- Koenigsegg: Swedish small-series hypercar manufacturer with proprietary powertrain and vehicle engineering. Comparable to HWA in exclusive small-series supercar production, internal engineering depth, and motorsport-proven technology transfer.
- Manthey Racing: Germany-based motorsport engineering company and Porsche factory partner with Nürburgring-focused operations. Directly comparable to HWA in motorsport engineering services, customer racing support, and small-series vehicle programs.
- Alpina Burkard Bovensiepen: Germany-based manufacturer of exclusive high-performance vehicles based on BMW platforms with small-series production. Comparable to HWA in small-series high-performance vehicle manufacturing and engineering-driven limited production.
Broad incumbents
- Prodrive: UK-based motorsport and automotive engineering services company with broader operations across multiple programs. Comparable to HWA in automotive engineering services and motorsport program support, though larger and more diversified.
- Multimatic: Canada-based automotive engineering, vehicle dynamics, and motorsport company. Comparable to HWA through automotive engineering services, motorsport programs, and small-series specialty vehicle manufacturing.
- Williams Advanced Engineering: UK-based motorsport-heritage engineering services company with broader electrification and mobility focus. Comparable to HWA in motorsport-derived engineering services and high-performance vehicle development capabilities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Hwa Ag social profiles
Digital presenceHwa Ag financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hwa Ag leadership team
Management profileNumber of profiles
Profiles3 records
Hwa Ag subsidiaries and ownership
Company hierarchySubsidiaries3 records
Hwa Ag funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hwa Ag M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hwa Ag
What does Hwa Ag do?
HWA AG is an automotive engineering company that develops and produces high-performance vehicles and motorsport technology. The company provides end-to-end engineering services — complete vehicle development, engine development, electronics development, prototyping, homologation, and small-series manufacturing — alongside its own limited-edition supercar models (HWA EVO, HWA EVO.R, HWA EVO.R 24H, Sonderedition). Operations are anchored at the Affalterbach headquarters with a 17,500 m² facility producing up to 100 vehicles per year, sold through a global sales partner network.
Is Hwa Ag a public or private company?
Hwa Ag is a public company. It is classified as public and is currently operating.
When was Hwa Ag founded?
Hwa Ag was founded in 1998. It employs 251 to 500 people.
Where is Hwa Ag based?
Hwa Ag is headquartered in Affalterbach, Germany, in the Europe region.
How does Hwa Ag make money?
Four revenue lines are on record. Engineering Services are the primary driver. The others are vehicle Production and Sales, after-Sales and Support Services and motorsport Programs.
Who are Hwa Ag's main competitors?
Direct peers on record are RUF Automobile, Brabus, Pagani Automobili, Callaway Cars, Koenigsegg, Manthey Racing and Alpina Burkard Bovensiepen. Broad incumbents are Prodrive, Multimatic and Williams Advanced Engineering.
Does Hwa Ag have an API?
No public API is recorded for Hwa Ag.