Rheinmetall Clinches Quarter Billion Euro Order For New Type Of Contactors

by Shivani Kumaresan, Benzinga Staff Writer

January 3, 2023 6:59 AM | 1 min read | Make a Comment

German arms manufacturer Rheinmetall RNMBY has won a major order worth over a quarter billion euros in the electromobility domain from a premium German automaker.
Rheinmetall said it won the order amid stiff competition from Asia.
Rheinmetall will be equipping the new 900-volt generation of electrically powered vehicles with a new type of contactor.
Contactors make switching electric vehicles on and off safe, assuring efficient, risk-free operation.
The new 900V technology will improve the efficiency of the next generation of battery-powered vehicles, by enabling faster charging and enhanced range.
From 2025, Rheinmetall will supply tens of millions of the contactors for the automaker’s new vehicle platform.
Price Action: RNMBY shares closed lower by 3.54% at $39.83 on Friday.
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