The company said in a press release on Wednesday that it won the deal following a selection process that took more than two years and fierce international competition.

The product developed by TPV, a technologically advanced chassis element with a significant effect on drive dynamics, will be integrated in more than six million vehicles, said TPV.

TPV believes the deal holds great potential for its development in global markets and for additional expansion in Slovenia, where the group employs more than 1,200 people.

Production launch will require a significant upgrade of production performance, which will be facilitated with investments in additional automation robotisation, according to the press release.

The company said that industry experts deem the deal as the biggest single order for the Slovenian automotive industry so far. It is a confirmation that development competencies of TPV and the Slovenian automotive industry in general are very good.

TPV group generated EUR 153m in revenue last year, a 10% increase year-on-year. On average, the group spends between EUR 7m and EUR 8m on investments annually, while last year, the figure reached EUR 10m.

TPV exports most of its products to Sweden, the US, Germany and the UK, as well as South Africa and China. Its clients include Brose, Benteler, Faurecia, Mahle, BMW, Mercedes, Daimler, Renault, Rolls Royce, Jaguar, Volvo and Volkswagen.