Parts for Hyundai Motor's New Electric Vehicle Platform
Supply Until 2036
Daedong Gear, a powertrain specialist company under Daedong Group, announced on the 25th that it has secured an order for the 'Output Shaft Sub Assembly' part dedicated to Hyundai Motor Company's new electric vehicle platform. This part is a key component of the electric vehicle drive axle, responsible for transmitting the power from the drive motor to both wheels.
The supply period is from 2025 to 2036, with an expected total supply amount of 183.6 billion KRW. This accounts for approximately 76% of Daedong Gear's separate annual sales in 2022. Sales will be recognized from the point when individual purchase orders (POs) are actually received. Daedong Gear plans to produce the output shaft by applying a precision gear grinding process to reduce electric vehicle noise and supply it to Hyundai Motor Company.
This order marks the starting point for Daedong Gear to expand its business from supplying power transmission parts for internal combustion engine-based automobiles, heavy equipment, and agricultural machinery to becoming a core component company for future mobility such as electric vehicles, mobility, and robots.
No Jae-eok, CEO of Daedong Gear, said, "Based on this order, we will continue to expand our business in the domestic and international electric vehicle markets and broaden our modular component business areas. We will strategically nurture the business based on the technology, production, and sales know-how of power transmission parts for internal combustion engines that we have built so far."
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