Mobase Electronics, a specialist in automotive electronic components, announced on the 18th that it has signed an electronic component supply contract with the global automotive group Renault and Vietnamese electric vehicle manufacturer VinFast.
Mobase Electronics will supply key sets to Renault for four years starting in 2025. The supply scale is 30 billion KRW. Following the 110 billion KRW supply contract signed with Renault in 2021, it is analyzed that the company has been recognized for its automotive electronic product manufacturing technology by supplying key sets for new models as well.
According to the contract made in 2021, mass production is scheduled to begin in May this year. The company expects sales to increase once supply for the new contract is fully underway. In addition to Renault's internal combustion engine vehicles, the company is aiming to expand to supply parts for electric vehicles and is looking forward to additional contract announcements, the company stated.
Mobase Electronics has signed a 19 billion KRW multi-function switch supply contract with VinFast, an electric vehicle manufacturer under Vin Group, the largest market capitalization company in Vietnam. The supply period extends until 2026.
VinFast is one of Vin Group's core future subsidiaries and has transformed into an electric vehicle company after ceasing production of internal combustion engine vehicles. Recently, it recorded about 12,000 pre-orders in the United States. It plans to be listed on the New York Stock Exchange. Mobase Electronics has secured a new electric vehicle customer and plans to accelerate the supply of electronic components for electric vehicles.
A Mobase Electronics official said, "While maintaining the market position of existing items, we are focusing on expanding high value-added electronic components and electric vehicle parts," adding, "As part of our overseas market expansion, we will accelerate diversification of global customers."
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