Ramkrishna Forgings to Provide Powertrain Parts to US Electric Carmaker
Ramkrishna Forgings has bagged a major supply order for electric vehicle powertrain components from a US-based electric car manufacturer.
April 20, 2024. By Aishwarya
This also marks the debut of the Indian supplier in the US electric passenger vehicle market.
While the company has not explicitly disclosed the name of the US-based OEM likely due to an NDA (non-disclosure agreement), it can be surmised that the order, whose value is believed to be in the region of INR 400 crore per annum for the next few years, is likely to have come from Tesla which is well known to be the USA’s No. 1 EV passenger car and SUV manufacturer. The specific component type has also not been disclosed.
Ramkrishna Forgings stated, “The USA's largest electric passenger vehicle manufacturer approves powertrain components, marking the beginning of a strategic partnership that opens up a realm of exciting opportunities. This landmark approval signifies the company's position in the electric passenger vehicle segment with a strong emphasis on powertrain components.”
The approval follows the showcasing of a comprehensive portfolio of cutting-edge solutions, demonstrating the company’s expertise and commitment to delivering top-notch products.
Commenting on the new business, Milesh Gandhi, Executive Director, Ramkrishna Forgings Limited said, “We are thrilled to have received approval from USA's largest electric passenger vehicle producer to supply powertrain components. This collaboration speaks volumes about our ongoing commitment to innovate and our capabilities to meet the demands of the EV industry. Drawing from our four-decade-long expertise and know-how in developing and producing forged components, we are proud to offer products that enable our customers to save valuable development time and expedite market entry. Through our continuous innovations, we remain committed to creating value for our customers and contributing to the advancement of sustainable mobility globally."
The new US business will help broaden Ramkrishna Forgings’ global footprint for EV components. In October 2022, Ramkrishna Forgings bagged a long-term supply contract worth 15 million euros (INR 121 crore) from a Swedish OEM for two components – tie rod arm tag and spring link for an electric vehicle for supplies till 2030.
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