SEOUL, Apr 16: South Korea’s Hyundai Mobis said on Tuesday it had won a $530 million order to supply automotive lamps to US automaker Chrysler Group LLC in its biggest lamp deal ever.
Hyundai Mobis said in a statement the deal is its fifth lamp supply tie-up with Chrysler and is bigger than its previous lamp deals with BMW, Volkswagen, Mitsubishi Motors and Subaru, in value terms.
Hyundai Mobis, an affiliate of Hyundai Motor and Kia Motors, is trying to reduce its dependence on those sister companies and is aiming to generate 20 percent of its revenue from overseas automakers by 2020, from around 10 percent.
(AGENCIES)
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