Schaeffler India receives Rs 2,700 crore order for its electric axle for EVs
Automotive and industrial parts maker Schaeffler India, part of the Euro 16 million Germany-based Schaeffler Group, has received a Rs 2700 (Euro 300 million) order for its two-in-one electric axles as the supplier transitions to electrification from internal combustion.
The order, is the company's first system-level solution offering in the electric vehicle space, Schaeffler India said over a recent earnings call.
According to Harsha Kadam, Managing Director and CEO of Schaeffler India, the electric axle order is for the electric passenger vehicle with this customer for the next seven years.
“This is the pure electric solution that we are bringing to India now. The series production will start by the middle to second half of next year. In terms of volumes, it is going...