Hyundai Motor Company and Kia Corporation have entered into a strategic partnership with Germany's Infineon Technologies AG to secure essential power semiconductors for their expanding electric vehicle (EV) lineups. This long-term agreement guarantees a stable supply of these crucial components through the year 2030.
These power semiconductors serve a wide array of functions in modern vehicles, from controlling powertrains and managing batteries to operating safety systems and infotainment platforms. Through this partnership, Hyundai and Kia plan to collaborate intensively with Infineon to further enhance the performance across their range of electric, hybrid, and plug-in hybrid vehicles.
This strategic move builds upon an existing relationship between the parties, which began in the early 2000s and included a joint research center in operation from 2007 to 2020. The center focused on advancing electrical performance in automotive applications.
Heung-soo Kim, Executive Vice President and Head of Global Strategy Officer at Hyundai Motor, spoke on the strategic relevance of this partnership: “Our agreement with Infineon not only helps stabilize our supply of semiconductors but also strengthens our leadership in the rapidly growing global electric vehicle market.”
Peter Schiefer, Division President Automotive at Infineon Technologies, commented on the future of automotive technology: “Semiconductors are fundamental to the transformation of vehicles. They make cars cleaner, safer, and smarter. We are proud to continue our long-term partnership with Hyundai and Kia, providing high-quality products and expertise.”
In line with their ambitious growth plans, both Hyundai and Kia have upwardly revised their EV sales targets for 2030 to 2 million and 1.6 million units, respectively.