Sundram Fasteners Limited (SFL's) Powertrain Components Division has been recognised as Supplier of the Year by General Motors (GM) under its 30th Annual Supplier of the Year Awards. This is the ninth time the Chennai-based auto component major has received the coveted recognition, underscoring its consistent excellence in the quality and ability to meet global engineering benchmarks.
The reputed American automaker has honoured 134 of its suppliers from 16 countries with supplier of the year distinction in 2021. The awards are an acknowledgement of global suppliers that have distinguished themselves by exceeding GM's requirements, resulting in providing GM customers with innovative technologies and high quality.
Winners of the supplier of the Year awards were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Parameters for evaluation were Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales and Logistics.
Sundram Fasteners supplies key products to GM, including transmission shafts, radiator caps and more, which are seen across prestigious GM brands like Cadillac, GMC and Chevrolet. The company has been a GM vendor for over 25 years and has won the Supplier of the Year award five times in a row from 1996 to 2000, and in 2009, 2019, 2020 and now, in 2021.
SFL gets approval from MHA under PLI Scheme
The Ministry of Heavy Industries (MHA) vide its letter dated March 22, 2022 has approved the application submitted by the company under Component Champion Incentive Scheme of the PLI.
The PLI Scheme aims in building a robust supply chain in areas of Advanced Automotive Technology (AAT) components. The eligibility criteria require minimum investment of Rs. 250 crores over five years with at least Rs. 100 crores in the initial two years.
The company, out of capital expenditure amounting to Rs 2,000 crores planned over a period of next
five years, has a projected investment of over Rs 350 crores for manufacturing AAT components like powertrain sub-assemblies for EVs and select Internal Combustion Engine (ICE) vehicles. The company has secured firm orders from global OEMs for supply of these components under their EV programs.
Arathi Krishna, Managing Director, said, "The PLI scheme will benefit the sector in multiple ways by increasing localisation and make India an export hub in the global auto supply chain. We are setting aside around INR 350 crores for the manufacture of advanced automotive technology components for the next five years."