Kongsberg Automotive wins contracts worth over EUR 49 million in estimated lifetime revenue
Zurich, December 22, 2023: Kongsberg Automotive (KA) has won two contracts worth EUR 49 million in estimated lifetime revenue. KA won both for a global automotive manufacturer of 4x4 vehicles based in Europe.
The awards are worth:
- Over EUR 34 million in lifetime revenue for hose and tube assemblies (Flow Control Systems)
KA’s hose and tube assemblies transport fluid (including fuel, oil, and vapor) around vehicles, and can withstand extreme temperatures. This is a 10-year contract and KA’s Epila, Spain and Normanton, United Kingdom plants will produce and supply the product.
- Over EUR 15 million in lifetime revenue for lever shifters (Shift-by-Wire) used in EVs (Powertrain & Chassis)
The lever shifters are being designed and developed by KA. The modular lever shifter includes rotation in directions to suit shift patterns and meet a force to give the end user an optimum shift feature. The concept includes a custom finish with illuminated symbols/buttons. A high level of safety compliance is included based on the software needs i.e., cyber security. This is an eight-year contract, and KA’s Vrable, Slovakia plant will produce and supply the product.
“We are delighted to continue our growth with this important customer," says David Redfearn, KA's Cheif Sales Officer, adding, "These contracts reflect the quality and value that KA offers in this growing vehicle segment.”
Media and communications contact:
Therese Sjöborg Skurdal – Director Corporate Communications
[email protected]
+47 982 14 059
Investor Relations contact:
Mads Langaard – Head of Investor Relations
[email protected]
+47 905 81 264
About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry. We drive the global transition to sustainable mobility by putting engineering, sustainability, and innovation into practice. Our product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Find more information at: kongsbergautomotive.com
