Varroc Engineering Secures ₹4,391M Contract for EV Chargers
Filing Summary
Varroc Engineering Limited has announced a significant contract win with a leading global electric vehicle OEM. The agreement involves the supply of AC-bi-directional wall chargers, with an estimated annual business value of ₹4,391 million at peak capacity. The chargers will be manufactured at Varroc’s facility in Romania over a six-year period. This contract aligns with Varroc’s strategic focus on expanding its presence in the electric mobility sector. The company continues to invest in automotive technologies, enhancing its capabilities in electronics manufacturing and product development.
Varroc Engineering Limited has secured a strategic contract with a leading global electric vehicle (EV) OEM for the supply of AC-bi-directional wall chargers. This agreement marks a significant development in Varroc’s expansion within the electric mobility sector. The contract involves the provision of Energy Star-compliant chargers designed for high stability and advanced safety, reinforcing Varroc’s role as a global partner in automotive technology solutions.
The financial terms of the contract indicate an estimated annual business value of ₹4,391 million at peak capacity. The program is structured to span six years, with Varroc setting up production capabilities to meet forecasted volumes. This contract represents a substantial addition to Varroc’s revenue stream, aligning with its strategic objectives in the electric vehicle market.
Under the agreement, Varroc will manufacture the AC-bi-directional wall chargers at its facility in Romania. The chargers are engineered to deliver seamless EV charging performance, adhering to global standards for quality and timely delivery. This operational setup underscores Varroc’s commitment to maintaining high production standards and meeting the demands of its global OEM partners.
The contract with the global EV OEM is part of Varroc’s broader strategy to enhance its footprint in the passenger vehicle electronics market. The company is focused on accelerating growth in advanced safety, lighting, and electric powertrain solutions. Varroc’s ongoing investments in automotive technologies aim to address the increasing global demand for e-mobility, connectivity, and advanced driver-assistance systems (ADAS) solutions.
The implementation of this contract will occur over a six-year period, with Varroc establishing peak annual capacity to align with the OEM’s forecasted volumes. The production of the chargers in Romania ensures adherence to global quality standards and supports Varroc’s strategic objectives in the electric mobility sector.
Varroc Engineering Limited is a global tier-1 automotive component group, incorporated in 1988. The company manufactures and supplies e-mobility solutions, body systems, lighting solutions, and advanced electronics to leading OEMs. Varroc operates 37 global manufacturing facilities and 7 R&D centers, employing over 6,100 individuals. The company is listed on the National Stock Exchange and the Bombay Stock Exchange in India.