Supply of Core Gear Module Products for Next-Generation EVs and Extended-Range Electric Vehicles
Daedong Gear, a powertrain specialist under Daedong Group, announced on June 18 that it has signed a contract with Hyundai Transys to supply core gear module products for next-generation electric vehicles (EVs) and extended-range electric vehicles (EREVs).
The supply period runs from this year through 2032, with the expected supply amount totaling 146.1 billion KRW. This order is equivalent to approximately 63% of Daedong Gear's standalone annual sales last year. Actual sales will be recognized from the point when each purchase order (PO) is issued.
The products secured in this order include the carrier and differential modules for electronic all-wheel drive systems (e-AWD), as well as output gear sub-modules and input gear sub-modules for next-generation EREVs. These components are core elements of the EV drive axle, performing the function of accurately transmitting the drive motor's power to each wheel. Daedong Gear plans to apply precision gear grinding technology to supply these key components in order to reduce noise in electric vehicles.
Among the items in this order, the carrier and differential modules are products that were previously supplied to existing EV platforms and have now been extended to EREV platforms, resulting in derivative orders. After securing orders for various EV modules last year and establishing related production facilities, Daedong Gear expects to see more opportunities for such derivative orders going forward.
Last year, Daedong Gear secured a total of 1.4234 trillion KRW in hybrid and electric vehicle parts supply contracts. With this latest contract, the company now holds an order backlog of approximately 1.5695 trillion KRW.
Seo Jonghwan, CEO of Daedong Gear, stated, "This latest order is the result of Daedong Gear's powertrain technology and quality capabilities, which have been built up over many years and recognized by our customers. As a core component supplier leading the era of electrification, we will continue to take responsibility and strive to deliver products and solutions that exceed our customers' expectations."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
