Kongsberg Automotive increases sales towards the electric vehicle market
Kongsberg Automotive says that its Powertrain & Chassis business segment has secured a contract worth up to EUR 58.7 million in estimated lifetime revenue, and an average annual revenue of EUR 11.7 to supply an electric vehicle manufacturer with innovative shift-by-wire products.
“This important business win shows that our product strategy is valued by our partners as we continue to embrace electrification in the automotive industry,” says Chief Sales Officer David Redfearn, in a press release.
The contract awarded to KA by an unnamed global OEM is for use on an EV truck chassis platform for a right-hand stalk with shift-by-wire and regenerative braking functions, and a left-hand stalk with headlight, turn signal and wiper functions.
“We are excited to continue the growth of our shift-by-wire portfolio with a global OEM in the truck industry. KA has developed a set of building block solutions that allows us to be nimble in the marketplace”, adds Redfearn.
KA’s Nuevo Laredo facility in Mexico will produce and supply the products from June 2024.