Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

- Advertisement -

Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time.

Ramkrishna Forgings, an Indian supplier of rolled, forged, and machined products, has recently secured a significant supply contract for electric vehicle powertrain components from a major US-based electric car manufacturer, marking its inaugural venture into the US electric passenger vehicle market.

Although the name of the American OEM has not been revealed, likely due to confidentiality agreements, it is widely speculated that Tesla, the leading EV manufacturer in the USA, could be the client. This speculation stems from the estimated annual value of the order, which is around Rs 400 crore for the upcoming years. The specific types of components supplied remain undisclosed.

- Advertisement -

In a regulatory announcement dated April 18, Ramkrishna Forgings announced that the largest electric passenger vehicle manufacturer in the USA has approved their powertrain components. This approval starts a strategic partnership that opens up a range of promising opportunities. It marks Ramkrishna Forgings’ entrance into the electric passenger vehicle sector, specifically focusing on powertrain components.

This approval was a result of presenting an extensive array of advanced solutions, highlighting the company’s expertise and commitment to excellence in product delivery.

Milesh Gandhi, Executive Director at Ramkrishna Forgings, shared his excitement about the new partnership. He mentioned that receiving approval from the top electric passenger vehicle manufacturer in the USA for their powertrain components was thrilling. The partnership highlights Ramkrishna Forgings’ commitment to innovation and their capability to meet the changing needs of the electric vehicle (EV) market. With over forty years of experience in forging, the company is prepared to offer solutions that can decrease development time and speed up market entry. Gandhi emphasized that their continuous innovations are designed to provide value to their customers and support the expansion of sustainable transportation globally.

This new venture in the US is set to expand Ramkrishna Forgings’ international presence in the EV component sector.

Previously, in October 2022, the company had secured a long-term contract worth 15 million euros (approximately Rs 121 crore) with a Swedish OEM for manufacturing two electric vehicle components—tie rod arm tag and spring link—projected to continue until 2030.

In a strategic move in December 2022, Ramkrishna Forgings acquired a majority stake in Tsuyo Manufacturing, a New Delhi-based startup specializing in the production of powertrain solutions for electric vehicles. Tsuyo Manufacturing operates two facilities in Greater Noida, producing a diverse array of motors and drives suitable for various EV applications, both on-road and off-road.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

NVIDIA Record $26B Q1 Revenue, Announces Stock Split And Dividend Hike

0
The quarterly cash dividend has been raised by 150%, resulting in $0.01 per share on a post-split basis. NVIDIA reported first-quarter revenue for the period...

“AIC-T-Hub Aims To Grow Startups So More Indian Unicorns Can Contribute To The GDP”

0
T-Hub has collaborated with Atal Incubation Centre (AIC), initiated by the Atal Innovation Mission to incubate semiconductor startups, fostering innovation for India’s advancement in...

Pros And Cons: Boult’s Varun Gupta On Contract Electronics Manufacturing

0
While contract electronics manufacturing is not a new concept in India, it has lately picked up a pace never seen before. But what has...

Buzz

NVIDIA Record $26B Q1 Revenue, Announces Stock Split And Dividend Hike

0
The quarterly cash dividend has been raised by 150%, resulting in $0.01 per share on a post-split basis. NVIDIA reported first-quarter revenue for the period...

ASUS IoT And BRESSNER Technology Launch CTOS

0
The collaborative approach seamlessly integrates advanced features across CTOS solutions, fostering synergy. ASUS IoT has recently unveiled a strategic collaboration with BRESSNER Technology, aiming to...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Important Sectors

Renault Kwid, Maruti eVX: 15 Upcoming EVs Under ₹10 Million (1 Crore) In India

0
Should you wait or buy an electric car from the existing options in India? Well, that’s a question only you should answer! However, if...

Commercial EV Finance: Empowering Younger Companies To Drive Growth

0
While electric three-wheelers have emerged as the face of EV adoption in India, startups engaged in their retail need increased access to finance for...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Progress And Challenges In Autonomous Commuting

0
Despite over a decade of technological advancements and testing in cities like Phoenix and San Francisco, robotaxis still faces significant hurdles.  Companies like Waymo, Cruise,...

Manufacturing

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

EVR Motors Discusses Tech Sharing With Indian OEMs

0
The Israel-based EVR Motors designs Radial Flux Permanent Magnet (RFPM) motors and licenses this technology for manufacturing by OEMs and component makers. EVR Motors, an...

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...