LS e-Mobility to Supply Electric Vehicle Parts Worth 250 Billion KRW to Hyundai Motor and Kia

EV Relay Supply Contract... Cumulative Orders Surpass 1 Trillion Won

LS Electric's electric vehicle parts subsidiary, LS Mobility Solutions, announced on the 22nd that it has signed an EV relay supply contract worth 250 billion KRW with Hyundai Motor Company and Kia Corporation. The cumulative order amount has surpassed 1 trillion KRW.

EV relays are safety components that normally deliver battery current to the inverter, but cut off the current to protect the high-voltage system in case of abnormal current or fire. LS Mobility Solutions plans to supply products to Hyundai and Kia starting from the first half of 2025.

LS Mobility Solutions has supplied products to major global automakers such as General Motors (GM), Renault, Daimler, Volkswagen, Volvo, and Porsche. A company official stated, "As Hyundai and Kia, the world's third-largest car sellers, accelerate their electrification transition, we expect to become even closer partners."

LS E-mobility Solutions EV relay product image. [Photo by LS Electric]

The company said that it surpassed 1 trillion KRW in cumulative EV parts orders just over a year after spinning off from LS Electric in April last year. It recorded 700 billion KRW last year and 400 billion KRW in the first half of this year.

To respond to the North American EV market, the company plans to complete its Durango, Mexico plant within this year and start supplying parts produced at the plant to customers from the second half of next year. The North American EV market is expected to grow from 750,000 units last year to 2.03 million units in 2025 and 6.02 million units in 2030, driven by the Biden administration's eco-friendly EV expansion policies.

An LS Mobility Solutions official said, "We will utilize the North American plant as an advanced base for targeting the global EV market and actively collaborate with global automakers such as GM, Ford, and Stellantis to solidify our status as a global EV parts company."

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