Mando supplies 50 million units of 1.4 trillion suspension to Volkswagen… Largest in history (2 total steps)

(Seoul = Yonhap News) Reporter Hana Jang = Mando Co., Ltd., a specialized auto parts company, announced on the 22nd that it will supply 50 million suspensions, which are road shock absorbers, to the Volkswagen Group.

This is worth 1.4 trillion won, the largest single suspension item ever, Mando said.

With this order, Mando will produce and supply suspension products in Europe from next June to 2033 as a strategic partner of Volkswagen. The annual order volume reaches a maximum of 6 million.

Mando announced that the contract amount was 1.4 trillion won. This is equivalent to 25.24% of sales based on consolidated financial statements at the end of last year.

Suspension is a component that connects the wheel and the vehicle body, and four suspension components support the vehicle body load and absorb road shocks. As it plays a decisive role in ride comfort and driving stability, it is also an important part of the electric vehicle and autonomous vehicle markets.

According to Mando, this order includes most of the European flagship models of the Volkswagen Next Generation Electric Vehicle Platform (MEB), the best-selling passenger models of internal combustion engines such as the Volkswagen brand and the Audi brand, and commercial models. There are 10 types of passenger cars, including Golf, Tiguan, and Passat, and commercial vehicles are caddy.

The Volkswagen Group, which is competing for the first and second place in global car sales, has set a target of 26 million electric vehicle sales by 2029, and is focusing on preoccupying the market by releasing ID.3 and ID.4 electric vehicles in earnest.

“This Volkswagen electric vehicle platform suspension order will be a turning point in the European business leap forward,” said Sung-Hyun Sung-Hyun, the CEO of Mando. said.

Mando also plans to cooperate with Chinese Volkswagen on the back of a European Volkswagen order. Mando began manufacturing suspensions in Beijing, China in 2002, and now has a production base in Ningbo. Last year, in Mando, China supplied 14 million suspensions and 3.5 million vehicles worth to local automakers.

Mando reported that it is expanding its business with a variety of growth engines, such as entering the European electric vehicle market in earnest, actively targeting the Chinese Big 3 market, and expanding the suspension aftermarket business.

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2021/03/22 18:38 sent