Hyundai Mobis , an auto parts making unit of Hyundai Motor Group, is in price talks with General Motors on a deal to supply 1.2 million steering parts, a company official told Reuters on Thursday.
Go deeper with GlobalData
The talks involve the supply of parts to GM’s joint venture in Shanghai, said Lee Young-hoon, a Hyundai Mobis spokesman, adding that the deal could take as long as six months to complete.
“We are holding talks with GM to set prices after the global auto firm asked us to send an estimate for supplying 1.2 million steering parts over the next five years,” Lee told the news agency, declining to reveal the value of the deal.
