This photo provided by Volkswagen Group Korea shows ID.4 all-electric SUV.
SEOUL, Aug. 9 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it has received an order from Volkswagen AG to supply a core electric vehicle component for the German carmaker’s EV platform.
In the “large-scale” supply deal, Hyundai Mobis will supply battery supply assembly (BSA) parts to Volkswagen, which will integrate them into its next-generation EV platform, the company said in a statement.
Hyundai Mobis plans to build a manufacturing facility in Spain for the supply of its BSA parts to the German carmaker’s adjacent plant.
But the company didn’t provide the value of the contract, the supply volume of BSA components, the timeframe for the supply or other details.
BSA refers to a product that combines a battery pack with the battery management system (BMS) and other components to ensure the safe and efficient operation of the battery in an EV.
The company currently operates BSA plants in South Korea and the Czech Republic and is building EV parts factories in the United States and Indonesia, the statement said.
Hyundai Mobis is a core affiliate of Hyundai Motor Group, which also has Hyundai Motor Co. and Kia Corp. under its wing. Hyundai Mobis owns a 21.43 percent stake in Hyundai Motor.
It earns about 90 percent of its sales from Hyundai Motor and Kia, with 10 percent coming from other carmakers.
It has received $2.71 billion worth of orders so far this year from global carmakers, except for its captive buyers Hyundai Motor and Kia, achieving half of its annual order target of $5.36 billion from non-captive overseas customers.
The annual target is higher than the $4.65 billion worth of orders obtained last year.
From January to June, its net profit jumped 37 percent to 1.774 trillion won from 1.291 trillion won during the same period of last year, helped by increased sales of high-margin EV components.
(Yonhap)
