Steel Strips Wheels bags $ 55 mn order from US-based Elio Motors

Steel Strips Wheels Ltd (SSWL) has bagged its maiden export order worth about $ 55 million from the US-based Elio Motors. This order, which is one of SSWL's biggest export order in its history and marks its entry into a new geography, will include development of two ground wheels.
 
Steel Strips Wheels will supply wheels to Elio’s plant in Shreveport, Louisiana, and will manufacture the product from its Chennai plant. Total project volume would be approximately three million wheels spread over 5 years generating cumulative revenue of about $ 55 million.
 
“The company aims to increase its presence in North America by launching its commercial vehicle steel wheels and passenger car alloy wheels from its upcoming greenfield plants in India in coming months,” said SSWL in a press release.