Ramkrishna Forgings Makes Debut In US EV Market; Partners With Tesla For Power Train Components

Swarajya Staff

Apr 18, 2024, 01:47 PM | Updated 02:11 PM IST

Tesla Model S chassis with powertrain and battery pack
Tesla Model S chassis with powertrain and battery pack

Hot on the heels of securing Rs 270 Crore order to supply bogie frames of Vande Bharat train sets, Kolkata-based Ramkrishna Forgings has now secured approval from USA's largest electric passenger vehicle manufacturer to supply power train components.

The partnership marks its debut into the US' electric passenger vehicle (EV) segment, the company said in a stock exchange filing on Thursday.

However, the filing did not explicitly mention Tesla, the leading electric passenger vehicle manufacturer in the United States.

Specialising in closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings, Ramkrishna Forgings Ltd (RKFL) operates globally with a presence in the US, Mexico, Turkey, and Belgium.

In February 2024, the company secured a $220 million (about Rs 1,800 crore) contract in North America. This long-term agreement, spanning over a decade, signifies the company's entry into a new sector within the forging industry, focusing on supplying tier-1 clients in the light vehicle segment across North America.

On 15 April, the company received a Rs 270 crore order from the BHEL-TRSL consortium to provide bogie frames for the Vande Bharat train set.

The scope of the project entails the development and validation of the bogie frame for the sleeper version of the Vande Bharat train sets, RKFL said in a statement on 15 April.

With the order covering 32 train sets, each consisting of 16 coaches, RKFL will manufacture a total of 1,024 bogie frames.

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