Kongsberg Automotive

Regulatory Filings • Nov 10, 2021

Kongsberg Automotive wins contract worth EUR 21.4 million in estimated lifetime revenue

Kongsberg Automotive's Powertrain and Chassis (P&C) business segment has won a transmission control product contract worth EUR 21.4 million in estimated lifetime revenue, and average annual revenue of EUR 3 million.

The secured contract is for Kongsberg Automotive's modular manual gear shifters with the Silverline® cables. This system is used to shift gears efficiently and reliably in trucks and ensure driving comfort for the users.

The customer for this product is a sub-company of China's largest commercial original equipment manufacturer (OEM), based in southwest China. Production for this seven-year contract will start in 2023, and Kongsberg Automotive Morse Shanghai (KAMS) will be the supplier of the product.

"We are excited to continue expanding our market share in this important segment," says Bob Riedford, President of P&C, adding, "This is a big win for our KAMS joint venture and helps extend our solid foundation in the Chinese truck market."

Media contact Therese Sjoborg Skurdal therese.skurdal@ka-group.com

Investors/analyst contact Jakob Bronebakk jakob.bronebakk@ka-group.com

About Kongsberg Automotive ASA

Kongsberg Automotive provides world-class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable, and sustainable. With approximately 11,000 employees in 19 countries, Kongsberg Automotive is truly a global supplier. The company has more than 27 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com.