KBI Dongguk Industrial, Sales Triple 5 Years After Entering Mexico

KBI Dongguk Industrial Dongguk Mexico Factory View

[Asia Economy Reporter Choi Dae-yeol] KBI Group's automotive parts affiliate KBI Dongguk Industrial announced on the 31st that its Mexico plant achieved sales of 15.2 billion KRW in the first half of this year.

Established in April 2017, the company's Mexico plant manufactures plastic injection products such as crash pads and headlamps. These are ultimately supplied to overseas automakers including Hyundai Motor, Kia, Chrysler, and Mazda. Starting with sales of 10.3 billion KRW in the following year, the company expects to achieve its highest performance yet, with 23.9 billion KRW last year and over 15 billion KRW in sales in just the first half of this year?more than three times the sales of its first year of entry.

According to the company, the supply volume to Kia's new vehicles will increase from about 120,000 units annually to 220,000 units. Hyundai products will also increase from 120,000 units to 145,000 units. The company added that if additional items to be supplied to overseas automakers are secured, annual sales of 40 billion KRW would also be possible.

The plan by Hyundai Motor and Kia to increase production at their North American plants is also seen as a positive factor. Hyundai Motor is considering advancing the completion of its electric vehicle-only plant in Georgia, USA, from 2025 to 2024, and plans to establish an electric vehicle production line at its Alabama plant, starting mass production of the GV70 from the end of the year.

Kim Jin-san, CEO of KBI Dongguk Industrial, said, "We will aggressively conduct sales activities targeting automakers in the North American region and stabilize the quality of the production line."

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