- $260 million (approx. \300 billion) ICS contract signing - Supply parts to Chevrolet and Holden brands starting 2011 - First MOBIS export in multimedia parts since the acquisition of Hyundai Autonet
MOBIS, which recently is spurring its global expansion exporting key components overseas, has signed a $260 million (approx. \300 billion) contract with a North American Big 3 auto maker.
Korea’s leading automotive module and key parts manufacturer, MOBIS has recently won a contract to supply a multimedia electronic part that controls radio and HVAC to world-renowned automaker GM, thus starting to supply parts in a program customized for the vehicle production.
The part to be supplied to GM is the switch commonly known as Integrated Center Stack, or ICS, which is the component that controls the multimedia products inside the car. It is made up of Radio ICS and HVAC ICS and controls such parts as LCD display, radio and HVAC controller through CAN, LIN transmission, which is a method for communication inside the car.
The parts will be produced at the Tianjin MOBIS (TMA); initially about 460,000 of them a year will be applied to Chevrolet vehicles produced in the U.S. and China starting 2011 and an additional 130,000 of them will be sent to the Adelaide Plant in Australia, where the Holden model is being made.
In an effort to take the leading position in the automotive electric parts market, which is the key factor in the future of car technology, MOBIS acquired Autonet in 2009 and has made substantial investments in the electric and electronic parts business. Since then, MOBIS has been developing multimedia and mechatronics parts to take the lead in the Korean electronic auto parts industry. This contract is a very significant step for MOBIS, as this is the first time that the company’s big investments has produced results from overseas.
According to a MOBIS source, the top GM executives as well as purchasing and quality managers have been visiting MOBIS R&D and various manufacturing facilities for many years now and have rated the quality and productivity very positively. This contract was also the result of an open bidding process between global electronic auto parts makers. Lee Joon-hyung, Executive Director for Global Business, emphasized, “This contract is a so important for MOBIS, because it is the first time that MOBIS is exporting multimedia parts since acquiring Hyundai Autonet in 2009.” Lee added, “in the future we will only be exporting multimedia products but also mechatronics products through various routes.”