Rheinmetall wins quarter-billion euro order for e-vehicle parts

Jan 2 (Reuters) – Germany’s Rheinmetall (RHMG.DE) has won an order worth more than a quarter billion euros in the electromobility segment, the industrial group said in a statement on Monday.

Rheinmetall said it would be providing the new 900-volt generation of electrically powered vehicles with a new type of contactor to a premium German automaker.

Contactors are electrically controlled switches that make it safe to turn electric vehicles on and off, said Rheinmetall.

Starting in 2025, Rheinmetall will supply tens of millions of these contactors for the automaker’s new vehicle platform, the company said.

Reporting by Anastasiia Kozlova, Editing by Miranda Murray