Hyundai Mobis, an auto parts maker under Hyundai Motor Group, was picked as one of top suppliers to US carmaker GM for the first time since their partnership has begun in 2010, the company said Tuesday.
Hyundai Mobis` test driving track in Seosan (Hyundai Mobis)
The Korean company has been delivering core auto components including integrated center stacks to GM. The accumulated value of products supplied to the US carmaker has totaled $1.1 billion, it said.
Named the supplier of the year by the Detroit-based carmaker, Hyundai Mobis believes that its latest title will open new business opportunities overseas, and promote its corporate image as a global tier-1 supplier. It plans to diversify its business portfolio and increase the proportion of its sales that are made overseas to 40 percent.
The Korean company also supplies products to Fiat Chrysler and the PSA group. This year Mobis expects to secure $7 billion in sales globally, citing growing demand for auto parts in China.
By Cho Chung-un (firstname.lastname@example.org)