Sundram Fasteners betting big on EV and wind segments
CHENNAI: Auto component major Sundram Fasteners is focusing big on green technologies, including electric vehicles and wind energy segments.
In his AGM speech, company chairman Suresh Krishna said that Sundram Fasteners has been awarded contracts worth Rs 150 crore for EV products.
“The company’s Sri City unit has commenced supply of products for hybrid / EV applications and the company expects to sign contracts worth over Rs 200 crore for new EV products,” he said.
The company’s radiator cap division is exporting to 21 large EV manufacturers at the global level, which includes 11 large US based EV manufacturers.
The company’s application for manufacturing of Advanced Automotive Technology (AAT) components like powertrain sub-assemblies for EV and select internal combustion engine vehicles under the PLI scheme was approved for which the company has planned an investment of Rs 350 crore over a period of five years.
