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Ramkrishna Forgings has signed an agreement to supply power train components to the United States' leading electric passenger vehicle producer.
This agreement marks the company's first foray into the US electric vehicle market. Kolkata-based Ramkrishna Forgings manufactures and supplies closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel. When the corporation revealed the details, its shares increased by more than 3%, while benchmark indices were flat at the time.
"This collaboration speaks volumes about our ongoing commitment to innovate and our capabilities to meet the demands of the EV industry. Drawing from our four-decade-long expertise and know-how in developing and producing forged components, we are proud to offer products that enable our customers to save valuable development time and expedite the market entry," said Milesh Gandhi, Executive Director, Ramkrishna Forgings.
"Through our continuous innovations we remain committed to creating value for our customers and contributing to the advancement of sustainable mobility globally," Gandhi added.
Earlier this week, the business announced that it had received orders worth ₹270 crores to deliver the bogie frames of Vande Bharat train sets from a partnership headed by BHEL. Additionally, the company is present in Belgium, Turkey, and Mexico.
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