Quectel has been designated for automotive module projects, with a total amount of US$742 million to US$1.309 billion

On April 17, Shanghai Quectel Communications Technology Co., Ltd. (stock code: 603236) announced that it had recently received a designation letter from a world-renowned auto parts supplier, which designated Quectel as its automotive module supplier. . According to the announcement, the designated project is expected to be gradually mass-produced and delivered starting in 2026, with the delivery cycle expected to be eight years, that is, from 2026 to 2033. Estimated total sales over the life of the project range from US$742 million to US$1.309 billion.

The fixed-point notification of this project does not mean the actual final purchase quantity of the customer, it is currently only an estimate. The company expects that the designated project will start mass production in 2026, with an expected life cycle of 8 years, and will not have an impact on the company's operating results in 2024 and 2025. However, the acquisition of this designated project will have a positive impact on the company's future operating performance, and the specific amount and time of the impact will be determined based on the implementation of the project.

Quectel said that receiving the designated letter this time reflects customers' high trust and recognition of the company's technical level and product quality, which will help the company further explore the automotive market and enhance the company's sustainable profitability and global market competitiveness.

At the same time, Quectel also reminded investors that the project has a long implementation period and is affected by various factors such as automobile industry policies and market demand. There are uncertainties in the actual sales quantity, sales amount and generated sales revenue.

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The original article was originally published on WeChat public account (New Automotive Technology Information): Quectel has been designated for the automotive module project, with a total amount of US$742 million to US$1.309 billion.