Woori Industry, 33% Global Electric Vehicle Parts Market Share Ranked No. 1

Woori Industry (CEO Kim Jung-woo) has increased its global electric vehicle market share by recording new orders of 1.52 trillion KRW this year, following total new orders of 1.6 trillion KRW from 2021 to 2022.

Woori Industry announced that two vehicle parts, Actuator with a market share of 34% and Air HV PTC Heater with a market share of 33%, currently hold the number one global market share. Additionally, the Coolant HV PTC Heater used in electric vehicles is closely pursuing third place with a global market share of 20%.

Recently, Mahle, the world's fourth-largest automotive air conditioning parts company, entrusted a large-scale order of Air HV PTC Heaters, which it previously manufactured in-house, to its competitor Woori Industry. This has led to a concentration of orders for Woori Industry, which has begun establishing a mass production system.

Due to the recent surge in orders and requests from EV clients, the new factory in Georgia, USA, is scheduled for completion in December this year; the European factory in Slovakia has been relocated and expanded to 3.5 times its previous size as of October this year; and an expansion of the Monterrey factory in Mexico is also planned.