BUSINESS

Hyundai Mobis supplies parts worth $4.8b for US, China

By Kim Bo-gyung
  • Published : Sept 25, 2017 - 15:52
  • Updated : Sept 26, 2017 - 11:30
Until August this year, Hyundai Mobis, South Korea’s biggest auto parts maker by sales, has sealed orders worth a total $4.8 billion in the US and China between, up about five times compared to last year, the company said Monday.

“The orders are meaningful in that they were made on quality recognition of our products among partners in North America and China,” said an official of Hyundai Mobis.

Last year’s annual total had reached $1 billion.

The company does not have more orders to close in the remaining months of this year.

Marking the company’s first time ever to supply auto parts to be installed in pickup trucks in North America, Hyundai Mobis has won contracts for chassis modules alongside high value parts: disassociated center stack displays, and integrated center stacks.

The company noted that whether an auto parts maker has entered the North American pickup truck market is an essential standard for measuring the company’s level of technology and quality.

Workers at Hyundai Mobis‘ factory in North America. (Hyundai Mobis)

In China, the auto parts supplier has closed deals for external amplifiers, electronic parking brakes, and rear lamps, while securing a new partner there.

The company has sealed a deal with Chinese automotive company Geely to supply external amplifiers despite growing anti-Korean sentiment in China amid a diplomatic row over the deployment of a US anti-missile system in South Korea. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)