Shares of Varroc Engineering moved over 3% higher after the company announced a significant new business win in the electric mobility space. The global Tier-1 automotive supplier has secured an order from a leading global electric vehicle (EV) OEM for the supply of AC bi-directional wall chargers for electric vehicles.
The new agreement marks an important step in Varroc’s expansion within the global electric mobility ecosystem and strengthens its position in advanced automotive electronics solutions. Under the partnership, Varroc will supply Energy Star-compliant AC bi-directional wall chargers designed to offer high stability, enhanced safety features, and seamless EV charging performance.
Manufacturing for the chargers will take place at Varroc’s existing facility in Romania, ensuring adherence to global quality standards and timely deliveries. The program is expected to run for six years, with peak annual production capacity aligned to forecasted volumes. At peak capacity, the estimated annual business value is ₹4,391 million, which is approximately USD 48 million.
Commenting on the development, Dhruv Jain, CEO – Business II at Varroc, stated that the order reflects the company’s focus on delivering world-class electronics solutions to original equipment manufacturers. He added that the collaboration supports the broader automotive ecosystem by enabling safe, smart, and sustainable mobility solutions worldwide.