The company has received orders worth about Rs 16,712 crore for the supply of electric vehicle parts.

Electric cars are the future. With this in mind, many carmakers are already on track to stop the development of the conventional fuel-powered internal combustion engine. In addition, they are quoting suppliers for more components for electric vehicles.

Vitesco, a German multinational leader in drivetrain and powertrain technology, has announced that it has received a massive order this time around. The company’s chief executive officer Andreas Wolf said that they have received a bid of 2 billion euros, which is equivalent to about Rs 16,612 crore in Indian currency, to manufacture electric vehicle components.

Vitesco announced last year that it had received orders for components worth about €5.1 billion. In January, Vitesco reported that the United States had received an order for 1 billion euros from an American company.

The company expects sales to rise to 7.6 million this year, up from 7.3 billion euros last year. In addition, Vitesco aims to reduce the production of various moving parts of internal combustion engines to focus on electric vehicle parts by 2026-2029.

Shubhdeep writes about Autocar at TechGap. Although previously linked to various portals, his handcuffs with Autocar at TechGap. Day by day he is becoming an important member of TechGap.