Bulten has been awarded an Electric Vehicle Drive Technologies FSP (Full Service Provider) contract by a major European automotive manufacturer.
The contract is initially valued at approximately EUR 2 million per annum and extends for a period of seven years. Deliveries are expected to start late 2020 to gradually increase up to full capacity in 2021 and continue for a period of seven years. The contract is initially valued at EUR 2 million per annum and then follows the vehicles volume curve.
“The award of this prestigious contract clearly positions Bulten at the forefront of fastener development within the Electric Vehicle market which is anticipated to bring major change to the automotive sector in the future,” said Tommy Andersson, President and CEO of Bulten. “We continue to strengthen Bulten’s position within the Electric Vehicle market and we have good potential to further grow in the years to come.”
The firm said that its technical competences and long experience of successfully supplying complex and critical fasteners to the automotive industry were the main contributors in winning this contract.