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Hyundai Transys wins US$800-mln auto parts order in U.S.

All News 11:31 May 22, 2019

SEOUL, May 22 (Yonhap) -- Hyundai Transys Inc., an auto parts affiliate of Hyundai Motor Group, said Wednesday it has received a US$800-million order to supply an auto component to a U.S. electric car startup.

In the deal, Hyundai Transys will deliver seats for an all-electric pickup truck and an electric sport-utility vehicle made by the U.S. EV startup from 2020 to 2027, the company said in a statement.

The company didn't provide the name of the client and other details, citing a confidentiality agreement.

Hyundai Transys aims to achieve 12 trillion won in sales by 2022 by obtaining more component orders from global carmakers. In 2018, it posted sales of 7.04 trillion won.

Hyundai Motor Co. owns a 47.27 percent stake in Hyundai Transys, with affiliate Kia Motors Corp. holding a 45.37 percent stake.

kyongae.choi@yna.co.kr
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