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Sundram Fasteners bags $ 250 mn contract from global EV maker
Industry News- Jan 17,23
SFL plans to invest Rs 200 crore to support the new orders under the six-year long purchase package involving the supply of input & stator shaft sub-assemblies and drive gear sub-assemblies.
Chennai
The Chennai-headquartered Sundram Fasteners Ltd (SFL), one of the largest suppliers to OEMs and automakers globally, has won the biggest electric vehicle (EV) contract in its 60-year history. SFL 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. Sundram Fasteners plans to invest Rs 200 crore to support the new orders under the six-year long purchase package involving the supply of input & 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 parts will be serviced from the Company’s warehouse in North America. 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.
Arathi Krishna, Managing Director, Sundram Fasteners Limited, said, “We are extremely delighted to win this prestigious award that marks a significant milestone in our company’s history. The $250-million supply contract, one of the largest in India, is a further testimony to our commitment to manufacture and supply high-quality industry-leading products such as sub-assemblies, which are used widely in various segments of the EV sector. The win underscores the trust and confidence reposed in us by our clients both in India and globally. Going forward, it will spur expansion of our global business as we continue to work on our strategic roadmap for the future.”
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 from the North America 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.
SFL’s vast experience in manufacturing intricate products involving complex engineering will be aligned with the specific requirements of new customers under the contract and help them achieve superior performance parameters.
With a diversified product line, world-class facilities in 3 countries and motivated team of talented people, Sundram Fasteners has become a supplier of choice to leading customers in the automotive segments worldwide. The product range consists of high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, tappets, iron powder, powertrain components and sub-assemblies. Over the years, the company has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly.
Sundram Fasteners
electric vehicle
stator shaft
drive gear
Mahindra World City
Arathi Krishna
forging
metal forming
heat treatment
surface finishing
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