ID :
187186
Wed, 06/08/2011 - 10:44
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Shortlink :
https://oananews.org//node/187186
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Hyundai Mobis wins US$233 mln in deals from Japanese automakers
SEOUL, June 8 (Yonhap) -- South Korea's leading auto parts maker Hyundai Mobis Co. said Wednesday it has won orders worth US$233 million from Japan's Mitsubishi Motors Corp. and Subaru to supply head and rear lamps.
Hyundai Mobis said the orders mark the company's first contract from Japanese automakers and the largest order from Japan won by a South Korean supplier,
"Hyundai Mobis came to supply lamps to Europe, the United States and now Japan, only four years after it began producing the parts," a company official said. "Also, the company's victory over Japanese companies in an open bid for the deals proves its competitiveness has now reached the world class."
Under the $200 million deal with Mitsubishi Motors, Hyundai Mobis will supply three types of headlamps, including a new LED lamp jointly developed with Samsung LED Co., the LED-making unit of Samsung Group.
Its deal with Subaru, the automaking division of Japan's transportation conglomerate Fuji Heavy Industries, is worth $33 million for the supply of rear lamps for Subaru vehicles.
With its first successful bid for Japanese orders, the company will continue to increase its exports, according to Lee Joon-hyeong, Hyundai Mobis' vice president for overseas business.
"The company will first work to achieve its goal of exporting $1.52 billion worth of products this year and then work to increase the proportion of overseas shipments in its overall sales from the current 10 percent to 30 percent in 2015," he said.
Hyundai Mobis said the orders mark the company's first contract from Japanese automakers and the largest order from Japan won by a South Korean supplier,
"Hyundai Mobis came to supply lamps to Europe, the United States and now Japan, only four years after it began producing the parts," a company official said. "Also, the company's victory over Japanese companies in an open bid for the deals proves its competitiveness has now reached the world class."
Under the $200 million deal with Mitsubishi Motors, Hyundai Mobis will supply three types of headlamps, including a new LED lamp jointly developed with Samsung LED Co., the LED-making unit of Samsung Group.
Its deal with Subaru, the automaking division of Japan's transportation conglomerate Fuji Heavy Industries, is worth $33 million for the supply of rear lamps for Subaru vehicles.
With its first successful bid for Japanese orders, the company will continue to increase its exports, according to Lee Joon-hyeong, Hyundai Mobis' vice president for overseas business.
"The company will first work to achieve its goal of exporting $1.52 billion worth of products this year and then work to increase the proportion of overseas shipments in its overall sales from the current 10 percent to 30 percent in 2015," he said.
