Ramkrishna Forgings wins Rs 121 crore EV parts order from Swedish OEM
The new business order is for supply of two components – tie rod arm tag and spring link – for an EV from a leading Swedish OEM, till 2030.
Ramkrishna Forgings, one of India’s leading suppliers of rolled, forged and machined products, has bagged a long-term supply contract worth 15 million euros (Rs 121 crore} from a Swedish OEM. The supply order is for two components – tie rod arm tag and spring link – for an electric vehicle for supplies till 2030.
Commenting on the new business, Lalit Khetan, executive director and CFO, Ramkrishna Forgings said: “We have been awarded a long-term EV component contract to supply Tie Rod Arm Tag and Spring Link from a well-known OEM based in Sweden. This order will be carried out in stages and supplies will ramped up till 2030. This order signifies not only our strong product development capability, but also the trust that large OEMs have in Ramkrishna Forgings. In the emerging era of EVs, we have demonstrated our competence in this space through this contract. We are confident in our ability to use this contract to strengthen our foothold into the EV space, going forward.”
Headquartered at Kolkata, the company has manufacturing facilities at Jamshedpur. In the automotive sector, Ramkrishna Forgings says it is a preferred supplier to OEMs like Tata Motors, Ashok Leyland, VE Commercial Vehicles and Daimler in India and to Volvo, Mack Trucks, Iveco, DAF, Scania, MAN, UD Trucks and Ford Ctosan in the overseas markets. It also supplies globally to Tier 1 axle manufacturers like Dana, Meritor and American Axle.
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