Kongsberg Automotive wins a new contract worth approximately EUR 40 million in estimated lifetime revenue for a product used in electric vehicles

14 Mar 2024 08:30 CET

Zurich, March 14, 2024: Kongsberg Automotive has won a contract worth
approximately EUR 40 million in estimated lifetime revenue for a new rotary
actuator used in electric vehicles.

The actuator's main functions are decoupling of an electric motor and park lock.
KA's brand new product offers premium performance in compact packaging for
electric vehicle transmissions and drive units. The start of production is
scheduled for 2027.

The actuator will be developed in Mullsjo, Sweden, in collaboration with KA's
plant in Shawinigan, Canada, and produced and supplied from our Vrable, Slovakia
plant.

"This is another actuator business win where KA's ability to develop new
innovative solutions for future electric vehicles is demonstrated and selected
by a key strategic customer", says David Redfearn, KA's Chief Sales Officer,
adding, "This new product will be the first EU production footprint of an
electronic actuator from KA and the first award from this premium anufacturer of
Passenger Cars."



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/)

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