Shares of Ramkrishna Forgings Limited gained on Thursday as the company announced in an exchange filing that it has received approval from the USA's "largest electric passenger vehicle manufacturer" for powertrain components, marking the beginning of a strategic partnership.
As of 11.45am, Ramkrishna Forgings was quoting Rs 753.9, up 3.99 percent from the last closing price.
Without naming the partnering firm, Ramkrishna Forgings said that the partnership marks its entry into the electric passenger vehicle segment, based on its comprehensive portfolio of cutting-edge solutions.
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Milesh Gandhi, executive director of Ramkrishna Forgings Limited, highlighted the company's ongoing commitment to innovation and its capabilities to meet the demands of the EV industry.
"This collaboration speaks volumes about our ongoing commitment to innovate and our capabilities to meet the demands of the EV industry. Drawing from our four-decade-long expertise and know-how in developing and producing forged components, we are proud to offer products that enable our customers to save valuable development time and expedite the market entry. Through our continuous innovations we remain committed to creating value for our customers and contributing to the advancement of sustainable mobility globally," said Gandhi.
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