Happy Forgings Ltd Secures Order to Supply E-Axle Components for Electric SUVs in US

Happy Forgings Ltd, a prominent manufacturer of automotive components, has secured an order to supply E-Axle components for electric SUVs in the US passenger vehicle segment. The order comes from a leading global manufacturer and supplier of automotive components, indicating a significant milestone for Happy Forgings in its venture into the electric vehicle (EV) market.

The total value of the order is approximately Rs. 50 crore per annum at full production capacity, with an estimated total of Rs. 320-350 crores for the entire contract period. The supplies are scheduled to commence in the third quarter of the fiscal year 2025 (Q3 FY25) and will continue through the fiscal year 2032.

The new order reflects Happy Forgings' growing presence in the electric vehicle sector and its ability to meet the demands of the evolving automotive industry. With the increasing adoption of electric vehicles worldwide, this contract places Happy Forgings in a favorable position to contribute to the burgeoning EV market in the United States. The company is expected to ramp up production to meet the demand for E-Axle components as electric SUVs gain popularity among consumers seeking eco-friendly transportation options.

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