Concentric AB wins first important order for next generation Electro Hydraulic Steering (EHS) with leading electric bus OEM in Europe

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REDDITCH, Engliand , Oct. 23, 2023 /PRNewswire/ -- Concentric AB is proud to announce the win of a significant order of our next-generation Electro Hydraulic Steering (EHS) pump from a leading European electric bus OEM.

Metadata
Provider: 
PR NewswirePR Newswire
Retrieved on: 
Monday, October 23, 2023
Information
Tags: 
EHS, OEM, Concentric objects, Transport, IGP, Q4
Geotags: 
ENGLAND, SWEDEN
⚠ partially generated by AI ↴
Organisation: 
CONCENTRIC, CONCENTRIC AB
Stock Symbol: 
Bloomberg:COIC@SS
ISIN:SE0003950864
RICS:COIC.ST
Stockholm:COIC
Summary
Key Points: 
  • REDDITCH, Engliand , Oct. 23, 2023 /PRNewswire/ -- Concentric AB is proud to announce the win of a significant order of our next-generation Electro Hydraulic Steering (EHS) pump from a leading European electric bus OEM.
  • This order is worth 7 MSEK and will be supplied from Q4 this year, into Q1 of 2024.
  • Based on our strategic relationship with the customer, we are confident that this order will be the foundation for a long-term supply agreement.
  • "Electro Hydraulic Steering (EHS) is an important part of Concentric's electrification growth strategy and the win with this strategic customer solidifies our technology leadership position in the market.


Concentric AB wins first important order for next generation Electro Hydraulic Steering (EHS) with leading electric bus OEM in Europe

REDDITCH, Engliand , Oct. 23, 2023 /PRNewswire/ -- Concentric AB is proud to announce the win of a significant order of our next-generation Electro Hydraulic Steering (EHS) pump from a leading European electric bus OEM. This order is worth 7 MSEK and will be supplied from Q4 this year, into Q1 of 2024. Based on our strategic relationship with the customer, we are confident that this order will be the foundation for a long-term supply agreement.

The new generation of EHS units are fitted with Concentric's state of the art Internal Gear Pump (IGP), which is optimised to meet low noise steering system requirements, in one compact design. The IGP has been designed for both low-pressure transmission and high-pressure hydraulic circuits and is used, among other mobile and stationary applications, in electric buses and trucks.

This win cements the growing demand for Concentric's highly-efficient electro-hydraulic solutions, particularly in a market that is rapidly transitioning towards cleaner, electric transportation. The team at Concentric is proud to be at the forefront of the electrification transition, contributing our state-of-the-art technologies to help achieve sustainability targets while improving transportation efficiency.

"Electro Hydraulic Steering (EHS) is an important part of Concentric's electrification growth strategy and the win with this strategic customer solidifies our technology leadership position in the market.  Our next generation EHS is a great example how our business contributes through innovation towards a greener, more sustainable future for our customers, the society and Concentric.", says Martin Kunz, President & CEO Concentric AB.

For further information, please contact: Lynne McCarthy (Media Contact) at
Tel: +44 121 445 6545 or E-mail: [email protected]

 

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SOURCE Concentric AB

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