Hyundai Mobis has bagged a contract worth US$530m to deliver automotive lamps to Chrysler. It is the company’s biggest lamp deal till date.
Hyundai Mobis told Reuters this was the company’s fifth lamp deal with Chrysler and was bigger than its earlier lamp supply deals with Mitsubishi Motors, Subaru, BMW and Volkswagen, in terms of value.
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Hyundai Mobis is making efforts to reduce its dependence on sister firms Hyundai Motor and Kia Motors. It aims to achieve 20% of its revenue from foreign automakers by 2020, up from the current 10%.
