Hyundai Wia wins $596 mln order from U.S. and European auto makers
SEOUL, AJU - Hyundai Wia, a parts-making unit of South Korea's Hyundai auto group, has secured a major order worth 702.1 billion won ($596 million) to supply constant-velocity joints for premium auto companies in Europe and the United States. Company names were not disclosed.
Hyundai Wia said its constant-velocity joints minimized noise and vibration and reduced weight while increasing their rigidity and rotation angle. Fifty-five percent of the parts will be supplied to eco-friendly vehicles.
Constant-velocity joints allow a drive shaft to transmit power through a variable angle, at constant rotational speed, without an appreciable increase in friction or play. They are mainly used in front-wheel-drive vehicles. Modern rear-wheel-drive cars with independent rear suspension typically use constant-velocity joints at the ends of the rear axle half shafts and increasingly use them on the drive shaft.
Hyundai Wia plans to utilize production facilities in China, India and Mexico for the supply of components. "We are also negotiating with other carmakers in Europe and North America to supply constant-velocity joints," a Hyundai Wia official said.