Hyundai Mobis to supply Daimler, Volkswagen with car parts

SEOUL, July 30 (Yonhap) -- Hyundai Mobis Co., South Korea's top auto parts maker,
said Thursday it has begun supplying Germany's Daimler AG and Volkswagen Group
with car parts, in a move aimed at increasing its presence among foreign car
makers.

Hyundai Mobis said it has agreed with Daimler to provide the latter with car
audio systems worth US$35 million and intelligent battery sensors, used to
measure the electrical charge retrieved and stored in a vehicles battery, worth
$95 million.
The company said it has also signed a deal to sell $20 million worth of
automotive lamps to Volkswagen.
"We are aiming to extend our business further, to become the supplier for more
European and Chinese automakers," Lee Joon-hyung, executive vice-president of
Hyundai Mobis' global business team, said in a statement.
Hyundai Mobis, an affiliate of Hyundai Motor Co., has to date drawn most of its
revenues from sales of parts to Hyundai Motor and its affiliate Kia Motors Corp.
ygkim@yna.co.kr
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