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August 20, 2015

SOUTH KOREA: Hyundai Mobis to supply parts to PSA

Hyundai Mobis says it has signed its first-ever contract to supply parts to PSA Peugeot Citroen.

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.

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).

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