Kongsberg Automotive

Kongsberg Automotive wins contract worth EUR 30.7 million in estimated lifetime revenue

Kongsberg Automotive (KA)'s Powertrain & Chassis Driveline business unit has

secured a contract for passenger cars worth EUR 30.7 million in estimated

lifetime revenue and average annual revenue of EUR 6.1 million.

Driveline was awarded this five-year contract by one of the largest Original

Equipment Manufacturers (OEMs) in China for KA's shift-by-wire system. The

system consists of an electric rotary actuator and a lever-type shifter. The

electric rotary actuator is used to change drive modes on the transmission as

park (P) and drive (D). The shifter helps the driver to achieve the correct

driving mode, for example, park (P), drive (D), neutral (N), and reverse gear

(R).

KA's Wuxi plant in China will produce and supply the product from April 2023.

"We are proud that our global product strategy is paying off and that this

contract supports our growth path in the Chinese market with locally developed

products," says Dr. Christian Amsel, KA's Chief Technology Officer and interim

President of Powertrain & Chassis, adding, "The contract awarded by one of the

largest OEMs in China proves KA's powertrain expertise offering complete

solutions for shifters and actuator."

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 (https://www.kongsbergautomotive.com/)

Media contact:

Therese Sjoborg Skurdal

+47 982 14 059

Investor relations contact:

Mads Langaard

+47 905 81 264

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