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Business Hyundai Motor and Kia Strengthen Power Semiconductor Supply through Strategic Partnership with Infineon
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Business Hyundai Motor and Kia Strengthen Power Semiconductor Supply through Strategic Partnership with Infineon
Business Hyundai Motor and Kia Strengthen Power Semiconductor Supply through Strategic Partnership with Infineon
Hyundai Motor and Kia Strengthen Power Semiconductor Supply through Strategic Partnership with Infineon
SEOUL, Oct. 18. 2023 – Hyundai Motor Company and Kia Corporation today signed a strategic partnership with Infineon Technologies AG, a global semiconductor leader, to secure power semiconductors in support of the growing electric vehicle demand worldwide.
Under the agreement, Hyundai and Kia will purchase core power semiconductors of automotives, including diode, insulated-gate bipolar transistor (IGBT) and silicon carbide (SiC) power modules.
The agreement builds on the two parties’ long-running cooperation on sensor components since the early 2000s. Infineon started supplying power semiconductors to the companies in the mid-2000s, and both parties operated a joint research center between 2007 and 2020 to optimize the electricity performance of vehicles.
Through the partnership, Hyundai Motor and Kia plan to work closely with Infineon to improve the performance of their electrified vehicles, including all-electric, hybrid and plug-in hybrid lineups. In addition, Hyundai Motor and Kia will receive supplies of power semiconductors needed for their electrified models from Infineon through 2030.
Infineon stands as a valued strategic partner, boasting steadfast production capabilities and distinct technological prowess within the power semiconductor market. This partnership not only empowers Hyundai Motor and Kia to stabilize its semiconductor supply but also positions us to solidify our leadership in the global EV market, underpinned by our competitive product lineups.
Executive Vice President and Head of Global Strategy Officer (GSO)
The future car will be clean, safe and smart and semiconductors are at the heart of this transformation. As a trusted partner, we are proud to advance our long-term partnership with Hyundai and Kia. We contribute premium products of high quality, our system knowledge and application understanding combined with continued investments in manufacturing capacity to address the increasing demand for automotive power electronics.
Division President Automotive of Infineon
The semiconductors are expected to be applied on new electrified models from Hyundai, Kia and Genesis to be launched through 2030. Earlier this year, Hyundai Motor and Kia raised their 2030 annual EV sales targets to 2 million units and 1.6 million units, respectively.
The partnership with Infineon will help Hyundai and Kia reach the above-mentioned targets as Infineon is a renowned global top-tier semiconductor manufacturer with proven technological competitiveness, production quality and mass-production verification history.
As the No. 1 company in the power semiconductor design and manufacturing market, Infineon also stands out in the automotive/industrial system semiconductor and sensor businesses in addition to power semiconductors.
Semiconductors are used in vehicles for a wide variety of systems — from powertrain and battery management to safety and infotainment. EVs require more semiconductors than traditional internal combustion engine vehicles and the quantity of sophisticated sensor chips increases with the addition of autonomous driving technologies.
Hyundai Motor and Kia may consider strategically expanding their collaboration with various global partners to secure the supply of core semiconductor components beyond power semiconductors and further strengthen their vehicle competitiveness.
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT and service. With about 250,000 employees worldwide, the Group's mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor and its products can be found at:
https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai , Kia Global Media Center (kianewscenter.com) , Genesis Media Center
