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▲ An image of the electric vehicle suspension developed by Mando. |
[에너지경제신문 여헌우 기자] Mando launched a’jackpot’ winning orders for 50 million suspension products from the Volkswagen Group, the world’s largest automaker. On a single item basis, it is the largest in the company’s history. It is believed that Mando’s efforts in developing parts for electric vehicles and advanced driver assistance systems (ADAS) installed in autonomous vehicles have come to fruition.
Mando announced on the 22nd that it will be selected as a strategic partner of Volkswagen and will produce and supply suspension products in Europe from next June to 2033. This order target includes most of Europe’s flagship models of Volkswagen Next Generation Electric Vehicle Platform (MEB), and passenger and commercial models of internal combustion locomotives such as Audi. Representative car models are Golf, Tiguan, Passat, and commercial car caddy.
In the industry, the point of this contract is that Mando has made a long-term relationship with a new customer. It is important to know how many parts are supplied, but it is said that there is a higher possibility of cooperating with Volkswagen in a separate field or creating lines with other European automakers.
In fact, Mando is also planning to cooperate with Volkswagen of China on the back of a European Volkswagen order. Mando Suspension started with mass production in Beijing, China (2002), and now has a production base in Ningbo. Last year (2020), Mando China supplied 14 million units of suspension and 3.5 million units of car suspension to local automakers. In general, four suspension parts are installed per vehicle. Under this contract, Mando’s annual orders amount to 6 million (Peak).
The industry’s opinion is that the driving force behind this order’Jackpot’ is that Mando has steadily accumulated technology related to future vehicles such as electric vehicles. This is because Volkswagen is in charge of the suspension of the next-generation electric vehicle platform MEB, which is investing astronomical funds.
Volkswagen is focusing on preoccupying the market by setting an aggressive target of 26 million cumulative sales of electric vehicles by 2029 and launching ID3 and ID4 electric vehicles in earnest. It is reorganizing the business structure centering on electric vehicles, which means that Mando has been identified as a partner. Mando also cited Volkswagen’s strategic direction as the background for signing the contract. It is interpreted that the company has chosen to actively develop future car technology as a paving stone aimed at the electric vehicle market and the era of autonomous driving. Mando is also steadily increasing the number of new customers, mainly for electric vehicle OEMs. In the case of ADAS technology, the share of company-wide sales was only around 3% in 2015, but it jumped to 14% 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. In addition, the suspension plays a crucial role in determining ride comfort and driving stability. In that sense, Mando explained that there is a high possibility that the suspension will complete the quietness of a fully autonomous vehicle.
Mando is expected to use this order as an opportunity to break through the business path in the European market. Mando is advancing toward its vision with various growth engines, including full-fledged entry into the European electric vehicle market, aggressively targeting the Chinese Big 3 market, and expanding the suspension aftermarket business.
Sung-Hyun Cho, general manager of Mando said, “This Volkswagen electric vehicle platform suspension order will be a major turning point for Mando’s European business leap forward. As Mando became a strategic partner of the Volkswagen Group, we will also seek cooperation with other chassis product lines.”