HD Hyundai Electric Secures Another Major North American Deal, Sets 6 Trillion KRW Order Target for This Year

Additional 100 Billion KRW Ultra-High Voltage Transformer Contract in the U.S.
Order Target Set at 6 Trillion KRW, Sales at 4.35 Trillion KRW for Next Year

HD Hyundai Electric has once again demonstrated its global competitiveness by securing an additional contract to supply ultra-high voltage transformers worth approximately 100 billion KRW in the North American market. With the power infrastructure market experiencing unprecedented growth, the company has set a goal to expand its ultra-high voltage transformer production capacity in a timely manner and achieve its order target of 6 trillion KRW this year.

On January 6, HD Hyundai Electric announced that it had signed a contract to supply 765kV ultra-high voltage transformers to the largest transmission network operator in the United States. The contract is valued at 98.6 billion KRW, and the products are scheduled for final delivery by 2028. This follows a previous contract in September last year with Texas’s largest power company for 277.8 billion KRW worth of 765kV ultra-high voltage transformers and reactors. By securing another 765kV transmission network project, HD Hyundai Electric has proven its market competitiveness.

HD Hyundai Electric Ulsan Plant Panorama. HD Hyundai Electric

The 765kV ultra-high voltage transformer is the highest voltage specification in the United States and requires highly sophisticated design. Manufacturing capabilities and rigorous quality control systems are considered key factors in winning such contracts. In particular, this contract is significant as it involves participation in an ultra-high voltage 'backbone' transmission network project operated by a limited number of utility companies in the U.S., serving as an important bridgehead for securing additional related projects in the future.

HD Hyundai Electric plans to aggressively expand its sales based on its proven global competitiveness in the North American market. On this day, HD Hyundai Electric announced through a public disclosure that its order target for 2026 is set at 4.222 billion USD (approximately 6.1 trillion KRW), with a sales target of 4.35 trillion KRW. These figures represent increases of 10.5% and 11.8%, respectively, compared to the previous year's targets.

The global power market is experiencing unprecedented prosperity due to the proliferation of artificial intelligence (AI) data centers, the accelerated transition toward eco-friendly and high-efficiency electrification, and the expanded adoption of energy storage systems (ESS). As demand for power equipment continues to rise, business opportunities across all areas of HD Hyundai Electric’s operations are also expected to expand.

To achieve its goals, HD Hyundai Electric plans to expedite the electrification of its large-scale new and expanded production bases. The company will complete the expansion of its transformer plants in Ulsan and the United States in a timely manner, while also advancing manufacturing processes, training skilled technical personnel in advance, and securing a stable supply chain. In addition, the company will pursue early stabilization and advancement of the automation system at its Cheongju distribution campus, which is scheduled to begin full-scale operation in the first half of the year.

Furthermore, HD Hyundai Electric stated that it will strengthen market expansion and business diversification to secure future growth engines and build a stable portfolio. The company plans to secure a new product lineup in the distribution sector and diversify domestic and international sales channels through expanded local strategic partnerships. In the rotating machinery sector, the company intends to expand its business into the marine shaft generator and large-capacity drive (VFD) package and the 10MW-class large electric motor markets.