Zurich, March 11, 2024: Kongsberg Automotive (KA) has won a contract worth over
EUR 22 million in estimated lifetime revenue for an electric rotary actuator
used in plug-in hybrid electric vehicle (PHEV).
KA's rotary actuator is a compact park lock actuator that can function as a
rotary actuator on powertrains. The park lock actuator will prevent the vehicle
from moving when put in the parking position. It is designed to have variable
torque and speed behavior at a specific position.
The seven-year contract, awarded to KA by one of China's leading manufacturers
for hybrid and electric vehicles starts in 2024. KA's Wuxi, China plant will
manufacture and distribute the product.
"This business awarded by one of China's leading manufacturers of hybrid and
electric vehicles shows that our customers value KA's experience, focus on
quality, safety, and unique product features, says David Redfearn, KA's Chief
Sales Officer, adding. "This contract is an incremental business for a product
used by traditional combustion engine vehicles as well as electric and hybrid
vehicles."
Media and communications contact:
Therese Sjöborg Skurdal - Director Corporate Communications
therese.skurdal@ka-group.com
+47 982 14 059
Investor Relations contact:
Mads Langaard - Head of Investor Relations
mads.langaard@ka-group.com
+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 (https://www.kongsbergautomotive.com/)