Australian wheel manufacturer Carbon Revolution has announced it’s no longer under voluntary administration and has reformed as a private company with new ownership.
The company, headquartered in Geelong, Victoria, manufactures one-piece carbon-fibre wheels in Australia.
Customers including Ferrari, Ford, General Motors, Lamborghini and Jaguar Land Rover fit these wheels to showroom models, including the Ford Mustang Dark Horse, Chevrolet Corvette ZR1 and Lamborghini Temerario.
The company went into voluntary administration in March 2026, following $347 million in losses over four years, but continued to operate its business which employs approximately 350 staff in Australia.
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The restructure has resulted in new private ownership, following Carbon Revolution being suspended from the New York-based Nasdaq in February 2026 after its valuation fell and it was no longer compliant with listing requirements.
It’s now owned by New York-based Orion Infrastructure Capital (OIC).
“Achieving this milestone marks the beginning of an important new chapter for Carbon Revolution,” CEO Donald Hampton Jr said in a statement.
“I want to sincerely thank all of our stakeholders whose support and confidence in our products and our team helped make this outcome possible.
“Our employees, customers, suppliers, and creditors all played an important role and our commitment to strengthen these relationships is a core element in our go-forward plan.”
During the restructure, administrators McGrathNicol declared Carbon Revolution’s Australian production as a “high-cost environment” and said the long distance to customers in the US and Europe drove costs up, making the company less globally competitive.
The wording of the latest statement left the door open for manufacturing overseas while reaffirming the company’s Australian base.
“Our focus is on disciplined operational improvement, successful commercialization of new products, strategic partnerships, and expanding our manufacturing footprint in a way that better supports our customers globally,” said Mr Hampton.
“At the same time, we remain committed to our Australian operations, where we will continue to pursue growth opportunities.”
The news comes after Australian Prime Minister Anthony Albanese suggested Australia’s local automotive manufacturing industry could see electric vehicles (EVs) produced here.
Mr Albanese said Australia could “at least” expand production of local components, given advances in manufacturing technology – an approach backed by the managing director of Australia’s Advanced Manufacturing Growth Centre (AMGC), Dr Jens Goennemann.