Kongsberg Automotive

Regulatory Filings • Sep 11, 2023

Kongsberg Automotive secures a contract worth over EUR 73 million for a new product designed and developed in-house

Zurich September 11, 2023: Kongsberg Automotive (KA) was awarded a contract for a new product—the Dog Clutch Actuator (DCA), designed for a four-speed electric axle used in heavy-duty trucks. The contract is worth EUR 73.4 million in estimated lifetime revenue.

The DCA, developed by KA, is designed for gear shifting and de-coupling applications for multi-speed electric axles for Hybrid, Battery Electric, and Fuel Cell Electrical Vehicle applications, ranging from passenger cars to heavy-duty commercial vehicles.

The product has a compact design—it requires less packaging space and offers the potential to reduce the complexity of transmission systems of electric axles. With the integrated shift fork and the possibility of providing locking detent functions in combination with responsive performance, KA plans to take a leading position in this product market. This eight-year contract is for a leading global automotive Tier 1 supplier. Production starts in 2023, and KA's Wuxi, China facility will manufacture and supply this product.

"KA's DCA is a unique product developed especially for electric vehicles and other applications. This is the first contract for this new product, and we expect more to come, both with Tier 1 suppliers and directly from the OEMs," says Christian Amsel, KA's Chief Technology Officer, and the President of Powertrain & Chassis business segment, adding, "KA is actively supporting the transition to sustainable transportation systems in the automotive and commercial vehicle market. Electrification will reduce the emissions and with green technology, our ambition is to be second to none in the market segments we operate in, e.g., actuators like the DCA."

Investor Relations contact:

Mads Langaard – Head of Investor Relations mads.langaard@ka-group.com +47 905 81 264

Media and Communications contact: Therese Sjöborg Skurdal – Director Corporate Communications therese.skurdal@ka-group.com +47 982 14 059

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