India's Ramkrishna Forgings strengthens global footprint, secures deal with US' foremost EV maker

As released by the company on its website, Kolkata-headquartered Ramkrishna Forgings Limited has received approval to supply powertrain components to the USA’s largest electric passenger vehicle producer.

The company's announcement refrains from disclosing the vehicle manufacturer's name, although sources hint that it might be Tesla. This announcement coincides with tech billionaire Elon Musk's upcoming visit to India, where he is set to meet with the Indian Prime Minister Narendra Modi.

This landmark approval signifies the Company's position in the electric passenger vehicle segment, with a strong emphasis on powertrain components. The approval follows the showcasing of a comprehensive portfolio of cutting-edge solutions, demonstrating the Company’s expertise and commitment to delivering top-notch products.

Ramkrishna Forgings Limited (RKFL) is one of the leading suppliers of rolled, forged, and machined products with state-of-the-art manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, Istanbul in Turkey having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico, and Westerloo in Belgium. Over the years, the company increased its forging and die-making capacities and added machining and heat treatment facilities, including isothermal annealing, which enabled it to undertake manufacturing of components for OEMs and Tier 1 companies.

Milesh Gandhi, the Executive Director of Ramkrishna Forgings Limited, said, "We are thrilled to have received approval from the USA's Largest Electric Passenger Vehicle producer to supply power train components. 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 market entry. Through our continuous innovations, we remain committed to creating value for our customers and contributing to the advancement of sustainable mobility globally."

Global aluminium usage in transportation by end-use, 2023 (%)

Total usage: 27.5 million tonnes

Aluminium’s strength-to-weight ratio makes it a top choice for electric vehicle manufacturers. According to AL Circle's industry-focused report "Global Aluminium Industry Outlook 2024," the transport sector, especially electric vehicles, will significantly drive aluminium consumption in the coming years and beyond. Aluminium usage in the transportation sector stood at 27.5 million tonnes in 2023. The demand is likely to reach 28.2 million tonnes in 2024. Passenger cars are the single largest user segment of aluminium amongst other transport sectors, and the rise of EVs is also playing a crucial role.