Hyundai Mobis says it has signed its first-ever contract to supply parts to PSA Peugeot Citroen.
The 22 billion won ($18m) deal is for the supply of switch modules for a model that PSA will begin mass-producing in 2017.
Go deeper with GlobalData
According to Nikkei, Hyundai Mobis plans to manufacture the components at a Chinese factory (Tianjin) and ship to France.
Hyundai Mobis is eager to expand its customer base beyond its Hyundai Motor parent – for risk spread and scale reasons – and has had some success with the strategy in recent years (it counts GM as a major customer now).
See Also:
