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BRIEF-Kongsberg Automotive receives EUR 49 mln contract from China

Jan 6 (Reuters) - Kongsberg Automotive ASA :

* Kongsberg Automotive (KA) has received nomination from a Chinese passenger car manufacturer for the supply of On Board Chargers (OBC) for their plug-in hybrid electric vehicles

* The OBCs will be used in B Segment cars, which will be sold in China

* The contract has an estimated total value of 49 million euros ($52.66 million) over 7 years, with supply from KA’s facility in Wuxi, China

* Production will start in the first half of 2018, and is expected to reach peak volume in 2020

Source text for Eikon: Further company coverage: ($1 = 0.9305 euros) (Gdynia Newsroom)

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