Kongsberg Automotive

Kongsberg Automotive wins contract worth EUR 205 million in estimated lifetime revenue for Gear Control Unit product

Zurich, December 21, 2023: Kongsberg Automotive (KA) has been awarded a new

contract worth EUR 205 million in estimated lifetime revenue for Gear Control

Unit product.

KA's Gear Control Unit automizes the gear shift functionality in heavy-duty

trucks. With integrated actuators on the transmission and operated by compressed

air, controlled with electrically operated valves, the gearshift operation is

performed in a precise way with comfort for the driver and efficiency for

improved fuel consumption. In addition to the mechanical unit with several

actuators and shift forks, the electronics and sensors are also part of the

scope.

This nine-year contract secured by KA is a result of a close collaboration

between KA's three Tech Centers-Norway, Canada, and China. KA's Wuxi, China

plant will supply the product to the leading heavy-duty truck manufacturer based

in China.

"KA is proud to win this significant Automated Manual Transmission contract,"

says David Redfearn, KA's Chief Sales Officer, adding, "This contract nomination

proves, once again our capabilities in developing and industrializing commercial

vehicle powertrain applications. Winning this with one of the biggest OEMs in

China is an important step to gain more market share where we still see further

growth opportunities."

Media and communications contact:

Therese Sjöborg Skurdal - Director Corporate Communications

+47 982 14 059

Investor Relations contact:

Mads Langaard - Head of Investor Relations

+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

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