Sundram Fasteners wins $250 mn international contract to supply EV parts

Company will invest Rs 200 cr support order it says is the largest for an Indian firm in the product range

Shine Jacob Chennai
Sundram Fasteners Q2 net up 20%; firm plans EV foray in domestic market

Sundram Fasteners, which serves original equipment manufacturers (OEMs) and automakers, said on Tuesday it had won a $250-million contract by an international company to supply sub-assemblies for an electric vehicle (EV) platform.
The deal is one of the largest won by an Indian supplier for this range of products of an EV platform, said Sundram Fasteners Ltd (SFL). The company plans to invest Rs 200 crore to support the new order under a six-year long purchase package, involving  shaft sub-assemblies and drive gear sub-assemblies .   . The international company’s name was not disclosed.
The company said it will ship the parts from its powertrain divisions in Mahindra World City in Chengalpattu, Tamil Nadu, and Sri City in Tirupati district of Andhra Pradesh. The parts will be serviced from the company’s warehouse in North America. Sundram Fasteners has estimated an annual sales peak of $52

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Sundram Fasten.

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First Published: Jan 17 2023 | 6:45 PM IST

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