Koavis, a company specializing in automotive fuel pumps, has been selected as the only Korean parts supplier to be named General Motors (GM)'s Supplier of the Year.
Koavis announced on May 16 that it received the Overdrive Award at GM's 33rd Supplier of the Year (SOY) event, which was recently held in Arizona, United States.
The Overdrive Award is presented by GM to a select group of top-performing suppliers who have demonstrated outstanding achievements in key areas such as sustainability, innovation, and relationship building. Out of approximately 10,000 suppliers worldwide, only eight received the award, and Koavis was the sole recipient from Korea.
Sung Yeongwan, president of Koavis (center), is posing for a commemorative photo after receiving the Overdrive Award as GM's Supplier of the Year. Photo by Koavis
At this event, Koavis was also named a GM Supplier of the Year (SOY). Only four companies worldwide received both the Overdrive Award and the SOY Award simultaneously.
Koavis was honored with these awards in recognition of the superior quality of its core product, the automotive electric pump module. This marks the 11th time Koavis has received the SOY award since its first win in 2007. According to a Koavis representative, this is an exceptional achievement for a mid-sized Korean company.
Sung Yeongwan, CEO of Koavis, stated, "It is a great honor to be recognized for our world-class technology and quality competitiveness in electric pump modules through this award," adding, "Koavis will continue to build on its strong partnerships with customers to become a global top-tier automotive parts supplier."
Founded in 1994, Koavis is an automotive parts company specializing in fuel pump modules. Its product lineup covers all types of vehicles, from electric pump modules for internal combustion engine vehicles to water pumps for electric vehicles. In 2012, Koavis was acquired by Hahn & Company, a domestic private equity fund (PEF) manager.
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