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Ramkrishna Forgings Approved as Supplier for US Electric Vehicle Giant

22 April 20243 mins read by Angel One
Ramkrishna Forgings Limited secures approval to supply power train components to the USA's top electric vehicle producer, marking a strategic partnership.
Ramkrishna Forgings Approved as Supplier for US Electric Vehicle Giant
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On April 18, 2024, Ramkrishna Forgings Limited informed the stock exchanges that the company got approval to supply power train components to the USA’s largest electric passenger vehicle producer.

Details of the Partnership

One of the leading suppliers of rolled, forged, and machined products, Ramkrishna Forgings Limited, announced this is a noteworthy milestone for the company. The largest electric passenger vehicle manufacturer in the USA approves power train components, marking the beginning of a strategic partnership that opens up a realm of exciting opportunities.

The company stated that this landmark approval signifies the company’s position in the electric passenger vehicle segment with a strong focus on powertrain components. The approval follows the showcasing of a comprehensive portfolio of cutting-edge solutions, demonstrating Ramkrishna Forgings’ expertise and commitment to delivering top-notch products.

This approval not only signifies the company’s debut in the US electric vehicle market but also unlocks many thrilling new opportunities. With a focus on sustainability and efficiency, Ramkrishna Forgings Limited is poised to play an important role in shaping the future of electric mobility.

Commenting on this milestone, the Executive Director of Ramkrishna Forgings Limited, Mr Milesh Gandhi, said, “We are thrilled to have received approval from USA’s Largest Electric Passenger Vehicle producer to supply power train components. This collaboration speaks volumes about our ongoing commitment to innovate and our capabilities to meet the demands of the EV industry.”

He further added, “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. Through our continuous innovations, we remain committed to creating value for our customers and contributing to the advancement of sustainable mobility globally.”

About Ramkrishna Forgings Limited

Ramkrishna Forgings was incorporated with the objective to manufacture forged products. The company supplies to different sectors like railways, automotive, farm equipment, oil and gas, power and construction, bearings, earth moving and mining, both in India and international markets.

On April 18, 2024, the share price of Ramkrishna Forgings Ltd opened at ₹732.00, touching the day’s high at ₹764.80, as of 12:50 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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