(PRESS RELEASE) DÜSSELDORF, 23-May-2022 — /EuropaWire/ — Rheinmetall AG (ETR: RHM), a German integrated technology group active in the automotive and defence industries, has announced a major order for the supply of millions of transmission housings for a world-leading maker of electric vehicles. The contract will run for about six years and will be executed together with the company’s joint venture in China KPSNC.
The housings will be produced in Shanghai, where Rheinmetall and its Chinese partner HUAYU Automotive Systems Co. Ltd. (HASCO) operate the joint venture KPSNC. The total order value is in the low three-digit million euro range. Just nine months after a well-known American customer placed the order in March of this year, serial production will begin at the end of 2022. This American company also maintains a large production facility in Shanghai, China’s largest city. Consisting of an aluminium alloy and produced using the pressure casting method, the transmission housings will be installed in future in two of the automaker’s vehicle models.
The order package constitutes another major success for Rheinmetall’s electromobility strategy, part of the Group’s systematic expansion in the world of alternative drives. As a tried-and-tested technology partner of the automotive industry, Rheinmetall has for many years made valuable contributions to optimizing and perfecting the automobile, thus helping to accelerate the ongoing transformation in energy use.
Once again, the order underscores the major market potential for electromobility components, while simultaneously highlighting Rheinmetall’s capacity for developing forward-looking solutions in close cooperation with customers.
Rheinmetall is represented in this project by a joint venture with HUAYU Automotive Systems Co. Ltd. (HASCO), the automotive components division of Chinese carmaker SAIC. Rheinmetall has two closely cooperating joint ventures: in Europe, KS HUAYU AluTech GmbH, and in China, HASCO KSPG Nonferrous Components (Shanghai) Co., Ltd. (KPSNC). In both cases, Rheinmetall and its JV partner HASCO each hold 50 percent of the shares.
Rheinmetall’s Castings business unit, which has production facilities in Germany and China, is a leading producer of lightweight aluminium parts. Its product portfolio includes engine blocks, cylinder heads, structural elements, transmission and chassis parts as well as e-mobility components.
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SOURCE: Rheinmetall AG