Kongsberg Automotive

Regulatory Filings • Sep 20, 2022

Kongsberg Automotive wins contract worth EUR 32.6 million in estimated lifetime revenue

Kongsberg Automotive (KA)'s Powertrain and Chassis (P&C) business segment has secured a contract worth EUR 32.6 million in estimated lifetime revenue corresponding to annual revenue of EUR 6.5 million.

P&C was awarded this contract by a global original equipment manufacturer (OEM), for a family of stalk devices, which uses the right-hand stalk attached to the steering column as a shift-by-wire shifter for Automatic Manual Transmissions (AMT) as well as the addition of variants for Manual Transmission (MT) applications.

This product is KA's first for the new generation of ASIL B, capable stalk shifters for trucks which will also provide cyber security and the capability for Over the Air (OTA) updates. ASIL B level is the latest government safety regulation in ISO 26262, which require a level of redundant function in case of an electronic fault.

KA's Nuevo Laredo facility in Mexico will produce and supply the product from January 2024.

"We are excited to continue the growth of our shift-by-wire portfolio with a proven global OEM in the truck industry. We have developed a set of building block solutions that allow us to be nimble in the marketplace. This important business win shows that our product strategy is valued by our OEM customers," says Bob Riedford, President of P&C

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

Media contact: Therese Sjoborg Skurdal therese.skurdal@ka-group.com +47 982 14 059

Investor relations contact: Mads Langaard mads.langaard@ka-group.com +47 905 81 264