Ramkrishna Forgings Ltd (RKFL), India’s second-largest forging manufacturer, has reportedly secured approval to supply powertrain components to Tesla, the world’s second-largest electric passenger vehicle maker.
The size of the order could be in the range of Rs 400 crore.
In a notice to the stock exchange, RKFL did not name Tesla or the potential value of the deal. Calling it “a significant milestone in its journey towards pioneering electric mobility solutions”, RKFL said that “the USA’s largest electric passenger vehicle manufacturer had granted approval for powertrain components, marking the beginning of a strategic partnership that opens up a realm of exciting opportunities”.
The announcement from the Calcutta-based company came days ahead of the much-anticipated visit of Tesla CEO Elon Musk to India. It is widely anticipated that Musk will announce investments in EV manufacturing and the launch of Starlink during the visit.
RKFL executive director Milesh Gandhi said: “We are thrilled to have received the approval. This collaboration speaks volumes about our ongoing commitment to innovate and our capabilities to meet the demands of the EV industry.”
The company, which has a manufacturing base in Jamshedpur, Jharkhand, said the approval signifies the RKFL’s debut in the US EV market and unlocks a number of new prospects.
With a capacity of 1,87,100 tonnes annually, RKFL supplies to various sectors such as automotive (commercial and passenger), railways, farm equipment (tractors), bearings, oil and gas, power and construction, and earth moving and mining — both in India and overseas markets.
