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The Victorian ingredient in some of the world's hottest supercars has called in administrators to sort its finances and keep its business alive.
The Australian company that builds carbon-fibre wheels for some of the world's fastest cars has entered administration after a move away from electric cars took a chunk out of its balance sheet.
Carbon Revolution is a Geelong-based supplier of lightweight wheels for brands such as Ferrari, Chevrolet and Ford, and has seen its carbon-fibre products fitted to cars from the Lamborghini Temerario supercar to the Range Rover Sport SV SUV.
The cancellation of two upcoming electric cars planned to use its wheels – and "lower than expected" demand for existing rims – has hurt the company's finances.
The Victorian firm nearly doubled revenue in the 12 months to June 30, 2024 – from about AUD$37 million to AUD$69 million – yet losses nearly tripled, from AUD$76 million to AUD$212 million.
While it has not gone bust – and its Geelong factory continues to operate – Carbon Revolution has appointed an external administrator to "unburden" itself from its existing debt and return to being a private company.
The firm was kicked off the Nasdaq stock exchange last year after the value of its shares dropped below a minimum threshold.
Carbon Revolution has said it will continue operating during adminstration with "production schedules met, deliveries made, and the development of new products ongoing," and hopes to "re-emerge" by the middle of this year with the necessary funding.
"It’s the right thing for us to do now, for us to de-leverage the business. We’re going to go down the private path," Carbon Revolution CEO Donnie Hamptohe told The Australian Financial Review.
"Customers love our product, de-leveraging will enable us to go forward."
Carbon Revolution was founded in 2007 as one of the pioneers of carbon-fibre wheels for road cars, which are lighter and stronger than regular steel or aluminium alternatives.
It scored its first deal with a major car manufacturer in 2015, supplying wheels for the Ford Mustang Shelby GT350R muscle car sold in the US, followed by a series of Ferrari models starting with the 488 Pista in 2018.
An expansion of its operations from 3000 square metres to 10,000 square metres was followed by supply contracts for the Chevrolet Corvette Z06 and ZR1, Renault Megane RS Trophy-R, Range Rover Sport SV, and Lamborghini Temerario.
It has continued its Ford supply deal on the Mustang Dark Horse SC, the supercharged successor to Shelby models.
In reducing rotational mass and weight, carbon-fibre wheels have the potential to address two of the biggest technical challenges facing electric cars: reducing weight and, in turn, increasing driving range.
In October 2025, Carbon Revolution reported "the cancellation of two electric vehicle wheel programs" that were "expected to contribute substantial wheel volumes," without naming the car brand.
It was attributed to "the weakening of the broader EV market", with most of the world's top car makers scaling back their electric-car plans over the past two years amid a cooling in demand.
Alex Misoyannis has been writing about cars since 2017, when he started his own website, Redline. He contributed for Drive in 2018, before joining CarAdvice in 2019, becoming a regular contributing journalist within the news team in 2020. Cars have played a central role throughout Alex’s life, from flicking through car magazines at a young age, to growing up around performance vehicles in a car-loving family. Highly Commended - Young Writer of the Year 2024 (Under 30) Rising Star Journalist, 2024 Winner Scoop of The Year - 2024 Winner
