[Special Stock] Hyundai Gongup Secures Large-Scale Supply Contract for Hyundai Motor Tucson... Stable Supply of Electric and Hydrogen Vehicle Parts

[Asia Economy Reporter Hyungsoo Park] Hyundai Industrial's stock price is on the rise. The news that it will supply major interior parts for the new Tucson, scheduled to be released on the 15th, appears to have influenced the stock price.

As of 11:22 AM on the 14th, Hyundai Industrial is trading at 6,090 KRW, up 19.41% compared to the previous trading day.

On the same day, Hyundai Industrial announced that it has signed a supply contract for seat pads and armrest parts for the new Tucson and has started mass production. It explained that new sales worth a total of 85.2 billion KRW are expected over the next six years. The annual production scale is about 200,000 units, worth approximately 14.2 billion KRW. Mass production is currently in full swing, and sales worth 3.5 billion KRW have already been secured this year.

Despite the impact of the novel coronavirus (COVID-19), Hyundai Industrial continues its growth trend as the supply of its main products expands. It is expanding its SUV lineup including the new Tucson and Sorento, and is receiving strong orders for premium Genesis models led by the GV80 and G80, resulting in favorable performance in the domestic market.

Hyundai Industrial recorded cumulative sales of 92.6 billion KRW and operating profit of 4.4 billion KRW in the first half of this year, up 7.4% and 113.2% respectively compared to the same period last year.

A Hyundai Industrial official said, "We are steadily supplying parts for eco-friendly vehicles such as Nexo and Ioniq, which will lead trends in electric and hydrogen cars," adding, "We expect additional growth momentum as new electric vehicle lineups are added."

The Tucson is Hyundai Motor's flagship SUV model, having surpassed 7 million units in cumulative global sales since its launch in 2004. After the third-generation model in 2015, the fourth-generation full-change (complete redesign) model is being introduced after five years, raising expectations for the new car effect.

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