Hyundai Wia Wins Parts Supply Deals Worth 700 Bln Won From Europe, U.S.
Muhammad Irfan Published January 29, 2020 | 02:17 PM
Hyundai Wia Corp., a parts unit of Hyundai Motor Group, said Wednesday it has clinched 700 billion won (US$595 million) worth of parts supply deals from carmakers in Europe and the United States
SEOUL, (UrduPoint / Pakistan Point News - 29th Jan, 2020 ) :Hyundai Wia Corp., a parts unit of Hyundai Motor Group, said Wednesday it has clinched 700 billion won (US$595 million) worth of parts supply deals from carmakers in Europe and the United States.
Hyundai Wia will supply constant velocity joint (C.V. joint) components to premium carmakers in Europe and the U.S., the company said in a statement.
Hyundai Wia didn't provide the Names of the companies or other details, citing a confidentiality agreement.
The company said it is "in talks" with other European and North American carmakers to supply C.V. joints.
It aims to raise its market share of the global C.V. joint market to over 10 percent by 2022 from the current 8 percent by diversifying its customer base.
It earns over 80 percent of its sales from deals with affiliates Hyundai Motor Co. and Kia Motors Corp.
Recent Stories
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
Turkey's Freedom Flotilla ready to set sail for Gaza
French teen dies from heart failure after knife attack near school
Iranians appear unfazed by Isfahan blasts
UAF celebrates Int'l Chinese Language Day
More Stories From Business
-
Pakistan aims to agree outline of new IMF loan in May - Finance Minister
6 hours ago -
FTO commends FBR's role for prompt resolution of tax payers’ issues
6 hours ago -
BISP embraces E-procurement: launches inaugural tender
8 hours ago -
Business community indebted to Ahsan Zafar for his unprecedented services: Yousuf Rajput
9 hours ago -
China auto sector steps up Europe push with Spain plant
8 hours ago -
Condolence reference held in memory of FBR's officials
10 hours ago
-
Health activists ring alarm bells over 10-stick cigarette pack
10 hours ago -
Karachi receives maiden direct flight of Azerbaijan Airlines from Baku
10 hours ago -
PSX turns bullish, gains 619 points
11 hours ago -
Rupee bounces back; gains 13 paisa against dollar
10 hours ago -
Partners join hands for alternate use of marble, granite slury
10 hours ago -
Tokyo's Nikkei index tumbles 3% in morning trade
13 hours ago