Almek Signs 10.7 Billion KRW Supply Contract with US Electric Vehicle Parts Company KENONA

Almek, a specialized electric vehicle parts manufacturer (CEO Shin Sang-ho), announced on the 18th that it has signed a new contract to supply electric vehicle platform frame parts worth 10.7 billion KRW to the US electric vehicle parts company KENONA.

The ordered quantity is scheduled to be supplied from next month until October, and by 2030, Almek will deliver electric vehicle platform frame parts worth a total of 106.9 billion KRW to KENONA.

Founded in 1988, the US company KENONA produces steering and powertrain parts and supplies to Ford, GM, Chrysler, Toyota, and others. The electric vehicle platform frame parts supplied by Almek will undergo additional processing before being delivered to electric vehicle manufacturers.

Despite the generally unfavorable conditions in the electric vehicle and secondary battery industries recently, Almek continues to receive successive love calls from global automotive parts companies. This is due to Almek’s unique technological capabilities, including ultra-precision extrusion technology and shock-absorbing material technology (Crush Alloy), which have enabled contracts with global customers and sustained growth.

Almek also stated, “To increase production capacity, investments for a new production corporation are underway in the Montgomery area of Alabama, USA, together with a logistics corporation since last year. Once fully operational in 2026, it is expected to achieve an annual production capacity of 15,000 tons.”