Tuesday 28 June 2022, Amsterdam
Rheinmetall, together with its Chinese joint venture KPSNC, has won a new order with a lifetime value of around €42 million. The order is for chassis parts destined for an electric SUV made by a new player in the e-mobility market.
The incoming order was placed in mid-April 2022, with the first parts already slated for delivery in October 2022. Series production begins in January 2024. The project is set to run for eight years. In line with the principle of “local for local”, the components will be produced in the Guangde plant in Anhui province, China.
Responding to an official request for tenders, Rheinmetall overcame local and international competitors to win the order, vindicating again the Group’s successful strategy for tackling the epochal transition to e-mobility. Rheinmetall continues to systematically expand its position in the world of alternative drives. As a tried-and-tested technology partner, Rheinmetall has for many years made valuable contributions to optimizing and perfecting the automobile, thus helping to accelerate the ongoing transformation in energy use. The Group is already working with various well-known automakers in the field of e-mobility, and furthermore has the know-how necessary to gain new customers and to develop forward-looking solutions in close cooperation with them.
The customer in this case is new to the Group, a Chinese start-up dedicated entirely to producing e-vehicles, whose production volume is increasing. The product is a chassis part produced using low-pressure casting. Intended for installation in electric SUVs, it will be supplied to the customer fully processed and partially assembled.
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 with its business unit Castings, 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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