Kongsberg Automotive secures major contract extension worth EUR 523 million in estimated lifetime revenue
Zurich, April 26, 2024: Kongsberg Automotive (KA) has won a contract extension worth EUR 523 million in estimated lifetime revenue for KA’s Gear Control Unit (GCU) with integrated clutch actuator.
The GCU is a valve-based device designed for manual transmission trucks, allowing them to be driven as automatic transmission trucks if desired. This innovative technology enhances operator convenience by eliminating the need to switch gears while preserving the fuel efficiency typical of manual transmissions.
KA has been producing the GCU product for over seven years and the contract renewal is awarded by a major global manufacturer of transmissions for heavy-duty trucks. This five-year contract is a continuation of our existing business that will extend until 2028. KA’s plants in Nuevo Laredo, Mexico, and Wuxi, China will produce and deliver the products.
“This contract extension underscores our position as a preferred long-term partner for critical technical products that prioritize innovation, technology, and customer support,” says David Redfearn, KA’s Chief Sales Officer.
“Our GCU with integrated clutch actuation is a world-class product that allows for easy service with rapid and precise clutch actuation. Securing such a significant contract extension is the ideal building block for the ambitions that KA has within the actuation area, and it confirms our competitive position in both North America and Asia,” Redfearn adds.
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