Sundram Fasteners, which serves OEMs and automakers, announced that an international company had awarded it a $250 million contract to supply sub-assemblies for an electric vehicle (EV) platform. According to Sundram Fasteners Ltd, the deal is one of the largest won by an Indian supplier for this range of EV platform products (SFL). The company intends to invest Rs 200 crore to support the new order over a six-year period, which will include shaft and drive gear sub-assemblies. The name of the international corporation was not revealed.
The parts will be shipped from Mahindra World City in Chengalpattu, Tamil Nadu, and Sri City in Tirupati, Andhra Pradesh, according to the company. The parts will be serviced from the company’s North American warehouse. Sundram Fasteners anticipates a $52 million annual sales peak in 2026, with a supply of 1.5 million drive unit sub-assemblies per year.
“We are extremely delighted to win this prestigious award that marks a significant milestone in our Company’s history. “The $250 million supply contract, one of the largest in India, demonstrates our commitment to manufacturing and supplying high-quality industry-leading products such as sub-assemblies, which are widely used in various segments of the EV sector,” the company said.