Hyundai Motor Starts Mass Production of Parts for Genesis SUV ‘GV80’

[Asia Economy Reporter Eunmo Koo] Hyundai Industry, a company specializing in automotive interior materials, has started supplying parts for Genesis's new car model ‘GV80’.

On the 14th, Hyundai Industry announced that it has signed a supply contract for major interior parts such as seat pads, armrests, and backboard panels for the Genesis brand's first SUV model ‘GV80’ and has begun full-scale mass production. As a result, an increase of 45,000 units annually is expected, securing a new revenue source of 72.2 billion KRW over the next five years.

In particular, the supply has expanded to new parts in addition to the main products, seat pads and armrests. The premium backboard panel, first applied to the Genesis G90 model, has now been applied to the GV80 as well, establishing itself as a new key product for Hyundai Industry. Since the unit price of the premium backboard panel is high, the sales proportion is expected to rise rapidly with additional orders.

Furthermore, benefits are also anticipated for the new SUV lineup of the Genesis brand, including ‘GV80’ and ‘GV70’, as well as for the full-change models (G80 and G70).

A Hyundai Industry official stated, “With the newly launched GV80 leading the way, the expansion of the premium model's new lineup will drive Hyundai Industry's performance growth. Currently, supply continues for all Hyundai Motor SUVs, and combined with the new car effect leading trends such as eco-friendly electric vehicles, stable growth in the domestic market is expected to be maintained this year as well.”