Ramkrishna Forgings to supply power train components to US' largest EV producer
Ramkrishna Forgings has signed an agreement to supply power train components to USA's largest electric passenger vehicle producer, the company said in a stock exchange filing on Thursday.
This deal signals the company's debut in US' electric vehicle market. This landmark approval signifies the company's position into the electric passenger vehicle segment with a strong emphasis on powertrain components, it said in the statement.
Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings.
Shares of the company jumped over 3 per cent higher as on 10:25 am when the news was announced by the company. At the time, benchmark indices were flat.
«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 the market entry,» said Milesh Gandhi, Executive Director, Ramkrishna Forgings.
«Through our continuous innovations we remain committed to creating value for our customers and contributing to the advancement of sustainable mobility globally,» Gandhi added.
The company earlier this week said that it had secured orders worth Rs 270 crore from a consortium led by BHEL to supply bogie frames of Vande Bharat train sets.
The company also has
