Motherson Sumi gets orders worth Rs. 15,400 cr from Daimler.

Auto components maker Motherson Sumi Systems Ltd. (MSSL) has received biggest ever order from Germany’s Daimler, worth Rs. 15,400 crore, to supply external and internal systems for Mercedes-Benz vehicles.

Samvardhana Motherson Automotive Systems Group BV (SMRP BV), a subsidiary of the company, has received a significant set of orders for the supply of a range of exterior and interior systems for several future Mercedes-Benz vehicle generations, MSSL said in a statement.

'MSSL estimates these orders to generate sales revenues of approximately Rs. 15,400 crore (around euro 2.2 billion) over its lifetime and expects to commence from calendar year 2018,' it added.

In order to support Daimler's expansion activities, MSSL will invest in two new plants, one each in the USA and Hungary which will enable SMRP BV to be closer to Daimler's vehicle assembly plants, it said.


BS