Sisu Auto secures significant new order from Sweden – International growth strengthens
Sisu Auto will begin serial production and delivery of Sisu GTP vehicles to Sweden during the fall. In connection with the framework agreement signed in January 2024, the Swedish Defense Materiel Administration (FMV) and the Finnish Defense Forces’ Logistics Command also agreed on an initial order of over 260 off-road vehicles.
In September 2023, Tesi became an owner in Sisu Auto to bolster the company’s growth financing base. In the summer of 2024, Tesi made an additional investment in the company, increasing its ownership stake to 24.4 percent.
“Sisu Auto is a strategically important player in the Finnish defense industry. As a shareholder, Tesi has sought to promote Sisu Auto’s international growth. With the sale of GTP vehicles and expanded international cooperation, Sisu Auto has taken a significant step forward in its growth trajectory,” comments Mikael Niemi, Investment Director on Tesi’s Growth and Industrial Investments team.
As a domestic manufacturer of trucks and military vehicles designed for demanding use, Sisu Auto is a key company for Finland, with substantial export potential. With the announced order, Sisu Auto now has the largest order backlog in its history, exceeding EUR 200 million, with over 90 percent of the orders destined for export.
Read more:
- Press release by Sisu Auto, 16 August 2024 (in Finnish)
- Press release by the FMV, 15 August 2024 (in Swedish)
Additional information:
Timo Korhonen, Board Chair, Entrepreneur, Oy Sisu Auto Ab
+358 50 439 5759
Mikael Niemi, Investment Director, Growth and Industrial Investments
mikael.niemi@tesi.fi
+358 50 597 7303
Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter