BRIEF

on NORMA Group AG (isin : DE000A1H8BV3)

NORMA Group Provides Lightweight Tubes for Electric Vehicles

Stock price chart of NORMA Group AG (EBR:NOEJ) showing fluctuations.

Maintal, Germany, July 18, 2024 – NORMA Group has secured a significant contract to supply lightweight tubes for a new platform of small to medium electric passenger cars. The contract, valued at over EUR 30 million, will see the company delivering approximately 1.4 million tubes annually starting in December 2026.

The TP Flex tubes, made of thermoplastic elastomer, are designed to reduce the pressure drop in the battery thermal management system of electric vehicles. They contribute to efficient city mobility by being light and flexible, which is crucial for maintaining pressure consistency in the cooling circuit.

Carolin Wolfsdörfer, President Mobility & New Energy, emphasized that lightweight components are essential for electric vehicles to maximize range or reduce the power requirement. The tubes will be produced at NORMA Group’s plant in Subotica, Serbia, with investments planned for new ergonomic assembly lines and upgraded thermoforming equipment.

This contract highlights NORMA Group's expertise and capability in providing tailored solutions for electric vehicle manufacturers, further bolstering the transition to low-emission transportation.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all NORMA Group AG news