KBI Dongguk Industrial Expands Mexico Factory... Increases Electric Vehicle Parts Supply

KBI Dongkuk Industrial (KBI Dongkuk Industrial) announced on the 8th that it has recently completed the expansion of its factory in Mexico. The company began expanding the factory in June last year, investing 40 billion KRW over the course of about a year to install new equipment and reorganize the production line.

The factory is located in Nuevo Le?n, Mexico, where Kia's finished car plant is situated. It produces plastic injection products such as crash pads, headlamps, and rear lamps used in mass-produced vehicles manufactured at finished car plants in the North and South American regions. Hyundai Mobis procures parts made at this factory and supplies them to nearby Hyundai and Kia, as well as overseas finished car companies such as Chrysler and Mazda.

KBI Dongkuk Industrial Mexico Factory, which completed expansion at the end of last month [Photo by KBI Dongkuk Industrial]

As local finished car companies increase electric vehicle production, the factory expanded its production facilities to respond accordingly. The company stated that with the increased facilities, it plans to produce parts applied to seven car models mass-produced by Hyundai and Kia in the North and South American regions.

The company expects sales of approximately 42 billion KRW this year, and about 65 billion KRW next year, an increase of more than 55%. Recently, it was also decided to produce parts for five new electric vehicle models from Hyundai and Kia, including a new car applying Kia's electric purpose-built vehicle (PBV) dedicated platform, in South Korea.

Kim Yong-hee, CEO of KBI Dongkuk Industrial, said, "To play a key role in our clients' leap to becoming leaders in electric vehicles, we will focus on stabilizing supply and pursue mutual growth through win-win cooperation."