Kongsberg Automotive (KA) has received nomination from a Chinese passenger car manufacturer for the supply of On Board Chargers (OBC) for their next generation of plug-in hybrid electric vehicles. The OBCs will be used in B Segment cars, which will be sold in China.

The contract has an estimated total value of EUR 49 million over 7 years, with supply from KA’s facility in Wuxi, China. Production will start in the first half of 2018, and is expected to reach peak volume in 2020.

“Efficient powertrains is one of our key growth platforms and this contract further demonstrates that we are on a good path. I’m very pleased with this third business win in this growing and important segment for efficient powertrains, and it's satisfying to see commercial success with products that contribute to a sustainable future”, said Joachim Magnusson, Executive Vice President for Kongsberg Automotive’s Driveline business area.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +4792464699

Investors / analysts:

Philippe Toth, Sr. Vice President, Business Development & IR

Phone: +4732770503. Mobile: +4798214021

About Kongsberg Automotive:

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 revenues of close to EUR 1.0 billion and approximately 10.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 32 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

Growth platform contract in China worth EUR49 mill. (NOK 472 mill.)