Sundram Fasteners recently 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 & 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.
Ms 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.”
