Polaris Sewon, Abundant Order Backlog... "Stable Volume Secured for 7 Years"

[Asia Economy Reporter Jang Hyowon] Polaris Seawon, a specialized automotive air conditioning parts company, is forecasting stable performance growth through 2030 based on a substantial order backlog.

According to Polaris Seawon on the 2nd, the current order backlog for the automotive parts business is known to be approximately 500 billion KRW. This year, they have increased the order backlog by receiving an additional 50 billion KRW in orders. In addition to orders for internal combustion engine vehicle parts, orders for electric vehicles have significantly increased in line with the electrification strategies of global automakers.

Despite external challenges such as rising raw material costs and production disruptions in the finished vehicle industry, proactive raw material procurement, advanced production, and cost reduction efforts have been made to prepare for economic risks, which have now borne fruit.

Since 2020, Polaris Seawon has continuously increased sales for electric vehicles through its customers, diversifying its client base not only to Hyundai Motor Group but also to global automakers. Notably, recent orders have come from electric vehicle models of traditional global automakers such as GM and FORD.

GM and FORD are confident in securing market dominance as they officially launch electric vehicle products to replace their main internal combustion engine products. Especially, electrification of pickup trucks like the Hummer and F-150, the most popular models in the world's largest North American market, is underway, and growth in this sector is expected in the future.

A Polaris Seawon official stated, “Although there are various variables in the global situation, we are securing stable order volumes from various automakers through our customers,” adding, “Based on a solid order backlog, we will achieve stable profitability and growth through diversification of product items.”

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