Road Rumblings

ELECTRIC POWERED STREAMLINER GOES 295MPH

We reported on this effort a few issues ago. Team Vesco pulled the gas motor out and installed an electric motor to run in the E3 class at Bonneville this year. Congratulations to ReVolt Systems, AVS Fabrication. And Team Vesco for going 295 mph in just 90 days……there’s a big future for these guys !! While the record is 321, for a first time effort, 295mph is GREAT! These guys will be back and we are betting that they BREAK the record next time out. Check out and take a ride with the video on the record run. Copy & past the link or click on it to watch it now! https://www.youtube.com/watch?v=O5pbcd-sUC0

SPEED DEMON WINS HOT ROD TROPHY

For the 10th time, Speed Demon 715 has collected the Hot Rod Trophy for SpeedWeek at Bonneville, awarded to the Fastest overall speed for the Event. Our Qualifying Speed of 466.290 in A/ Blown Fuel Streamliner with our 443 cubic inch Duttweiler Performance built LS based Small Block Chevrolet took top honors.

SEMA Issues Statement Regarding Upcoming Trade Show

SEMA recently issued a statement confirming its commitment to hosting the SEMA Show later this year in Las Vegas. “At a time when COVID is back in the headlines, SEMA wants you to know that the association is 100% committed to holding the 2021 SEMA Show, Nov. 2–5, and showcasing two years of product innovations, vehicle trends and industry-leading education,” said Tom Gattuso, SEMA vice president of events. Event organizers also noted that they are still assessing safety measures and have yet to determine which will be applied during the event. Click here for more information.: https://www.sema.org/news-media/enews/2021/33/2021sema-show-update-sema-affirms-commitment-outstanding-show-november

Hager ty to Become Publicly Traded Company

Hagerty, a specialty automotive insurance platform, and Aldel Financial Inc., a special purpose acquisition company, announced that they have entered into a definitive business combination agreement. Upon the closing of the transaction, Aldel will be renamed Hagerty, Inc., and become publicly traded, with its common stock expected to be listed on the New York Stock Exchange under the ticker “HGTY.” The transaction, which has been unanimously approved by Aldel’s board of directors and the independent members of Hagerty’s board, is expected to close in the fourth quarter of 2021. It is expected to deliver up to $820 million of gross proceeds to the combined company. “When it comes to fueling the insatiable passion of tens of millions of automotive enthusiasts, Hagerty is well-positioned as a leading specialty insurance provider with a unique subscription and membership model and portfolio of immersive automotive events, entertainment and valuation tools,” said McKeel Hagerty, CEO of Hagerty. “For our members, this means a comprehensive and compelling experience that goes far beyond an insurance transaction. For our business, this means market-leading brand loyalty, an attractive business model with multiple points of monetization, a track record of financial success and a strong foundation for future growth.”