Korean company Hyundai Mobis has won today, April 16th, a $530 million order to provide Chrysler automotive lamps.
This is the largest lamp deal ever and the fifth lump supply agreement with Chrysler, said Hyundai Mobis. The company added that this order is bigger compared to any other lump deal with BMW, Mitsubishi, VW and Subaru, as value.
Hyundai Mobis, which is an affiliate of Kia and Hyundai, tries to minimize the dependence on these sister companies, trying to generate 20% of its revenue from foreign automakers by 2020, an increase from the current 10%. The company will supply head and rear lamps for a Chrysler model which will be released soon, but Hyundai Mobis officials did not offer information about the new model or give a time line for when the lamps will be supplied.
In January 2012 Hyundai Mobis signed a $1.07 billion deal to supply light-emitting diode rear lamps to GM and Chrysler. Back in the 90’s the company was producing the Hyundai Galloper and Hyundai Santamo cars which were licensed from Mitsubishi Motors. In some markets, the cars were sold under the Galloper brand name. Production of these cars shifted to the Hyundai Motor Company in 1999.