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Kongsberg Automotive wins contract worth EUR 15.4 million

Kongsberg Automotive’s Powertrain and Chassis (P&C) business segment has secured contract worth EUR 15.4 million in lifetime revenue and the annual revenue of EUR 3.8 million.

KA’s P&C was awarded this contract by one of the largest OEMs in China for KA’s Gen 3 Shift-by-Wire system with ISO 26262 functional safety ASIL-B. With this contract, KA will continue the strong relationship with this Chinese customer and look forward to additional growth in the coming years. KA’s Wuxi facility in China will supply the product for this four-year contract.

“This business win demonstrates KA’s dominant technology position in the China’s automotive market for shift-by-wire systems with the latest functional safety capabilities to meet the global standards,” says Bob Riedford, President of P&C

SOURCE: Kongsberg

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