Subros Limited has received confirmation of a new business award for supply of local Electric Compressors to Maruti Suzuki India Limited (MSIL) for its forthcoming EV and Hybrid vehicle programs. The approximate value of the business award is INR 12800 million (value spread over the life cycle of various models for about seven years). This award of business represents a strategic milestone in the electric mobility domain and will contribute positively to the Company's future revenues. It further strengthens Subros long-standing relationship with MSIL and reinforces its position as a leading automotive thermal systems manufacturer in India.
Subros shall execute localization of the Electric Compressor with technical assistance of DENSO Corporation, Japan and Toyota Industries Corporation, Japan.
