Sundram Fasteners, one of the suppliers to OEMs and automakers globally, announced that it has won the biggest EV contract in its 60-year history.
The Chennai-based Company has been awarded a $250-million contract by a leading global automobile manufacturer for the supply of sub-assemblies for its electric vehicle (EV) platform. The Company plans to invest Rs 200 crore to support the new orders under the six-year-long purchase package involving the supply of input and stator shaft sub-assemblies and drive gear sub-assemblies.
The Company will ship the parts from its powertrain divisions located at Mahindra World City in Chengalpattu, Tamil Nadu, and Sri City in Tirupati district, Andhra Pradesh.
The deal is one of the largest won by a supplier in India for this range of products for an EV platform. SFL has estimated an annual sales peak of $52 million in 2026 with a supply of 1.5 million transmission sub-assemblies per annum.
The sub-assemblies will be used in the EV models like MHEV/PHEV/BEV, covering various segments including mid-size trucks, SUVs and sedans. The launch of the new vehicles is planned for the North American platform in 2024. SFL will use special processes such as axial forming technology in the manufacturing of the products, which can withstand extreme temperatures and rigorous durability tests, meets high torque requirements and operate in a silent environment.
