SOUTH KOREA: Mobis inks first BMW tail light supply deal
Hyundai Mobis has won US$90m in supply contracts from BMW and General Motors.
The company said it had been working with BMW and GM buyers and quality control officers since March to close the deals.
The news came as VW met potential suppliers in Seoul and a few days after LG announced an audio supply deal with that automaker.
The BMW deal is a three year contract for rear lamps that will be used in the German carmaker's compact model, Hyundai Mobis told the Korea Herald, noting this is the first time a Korean parts maker had been selected to supply lamps to BMW.
The lamps, halogen and LED, will be produced at the company's plant in Jiangsu Province, China, and shipped to BMW plants in China, Germany and South Africa from 2011.
The contract with GM is an eight-year supply contract for drum-in-disc park brakes for Cadillac vehicles, the company said.
The brakes will be produced at the parts maker's plant in Changwon, South Gyeongsang Province, and 900,000 units will be shipped to GM's Lansing plant in Michigan during the contract period.