Sundram Fasteners wins a $250 million contract to supply EV sub-assemblies for global client
CHENNAI: Auto component major Sundram Fasteners 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.
Sundram Fasteners 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 Chengalpet in Tamil Nadu and Sri City in Andhra Pradesh.
