Hyundai Heavy Industries Strengthens SUV Lineup

[Asia Economy Reporter Eunmo Koo] Hyundai Industry, a specialist in automotive interior materials, is strengthening its supply lineup for sports utility vehicles (SUVs).

On the 25th, Hyundai Industry announced that it has signed a new supply contract for the new Sorento model and has begun full-scale mass production. The supply items include key interior parts such as headrests and armrests, totaling 124,000 units annually, worth 11.7 billion KRW. Accordingly, it is expected to secure sales revenue of approximately 58.3 billion KRW over the next five years.

The new Sorento, launching next month, is a new vehicle introduced by Kia Motors six years after the release of the third-generation model in 2014. Hyundai Industry is strengthening its SUV lineup, led by the Genesis ‘GV80’, which began its first supply last month.

The company stated, “Although the upstream industry is currently sluggish due to the impact of the novel coronavirus, the domestic market stability is expected to be steadily maintained through the strengthening of SUV models that meet market trends as well as premium models already secured.”

This content was produced with the assistance of AI translation services.