Plasan claims that they produced 1,747 sets of carbon fibre components for Shelby, and delivered them by the requested date. A set consists of a carbon fibre hood, front splitter and wing mirrors covers. Each pieces costs about $3,800. With that price, it means that $6,638,600.00 worth of parts have not been paid for, although not completely, as Shelby has maid some payments.
Another debt Shelby owes them is the payment for 5 “Knight Rider” hoods, used for the movie, of course. Each costs about $1,500, less than the GT500KR hoods due to lower quality. Then there’s an Employee Incentive Program Shelby promised to pay for. Due to the short timeframe all the parts were wanted in, Shelby promised extra cash to the employees to compensate for their effort and overtime work. They owe $43,675 for this program.
These all add up to a total debt of $6,689,775, although as stated earlier, some of it has already been paid off.
Another interesting thing to note is that a while ago, there was a controversy about the pricing of the carbon fibre hoods. Shelby charged customers $18,400 for replacements. Now, we’re being told that Plasan charges Shelby just $3,800. That’s quite a large premium, but it may have something to do with the extensive testing and development required, as well as covering installation and Shelby’s profits. However, Shelby has since lowered the price to $9,700.
I can’t really see how Shelby will be able to get themselves out of this, it all seems to be in favour of Plasan. We’ll see how things go.