Hyundai Mobis Won Combined $233 Million Order

Hyundai Mobis, An affiliate of the Hyundai Motor Group, said today that it won a combined $233 million order from Japan’s Mitsubishi Motors and Subaru to supply automotive lamps in what will be its first parts supply to Japanese automaker.

The deal comes as Japanese and other car makers are increasingly looking at South Korean parts makers which offer cheaper, quality products as opposed to their Japanese rivals struggling with the strong yen and the March 11 earthquake.

Hyundai Mobis, South Korea’s largest auto supplier said it will supply $200 million worth of headlamps to Mitsubishi Motors and $33 million of rear lamps to Subaru, an automobile manufacturing unit of Fuji Heavy Industries, from the second half of this year.

Hyundai Mobis previously agreed to provide its lamps to Europe’s BMW and Volkswagen as well as U.S. Chrysler Group LLC.

“Japanese and other car makers are turning to South Korean parts makers to save costs and diversify sourcing following the March 11 earthquake,” said Lee Sang-hyun, an analyst at NH Investment & Securities.

Hyundai Mobis, which heavily relies on its sister companies Hyundai Motor and Kia Motors for sales, aims to generate 30 percent of its revenue form overseas exports by 2015, from the current 10 percent.

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Mitsubishi gone green – Electric I

Mitsubishi gone green – Electric I

2012 Mitsubishi i MiEV

After the Evo’s, Mitsubishi is in the process to build pure EV’s and plug-in hybrid electric vehicles. Yoichi Yokozawa , new president on the North American Mitsubishi stated, that no less then 8 EV’s and/or plug-in hybrid electric vehicles will be on sale by 2015. Mr. Yokozawa said that Mitsubishi will, "Become the kind of car company that society expects us to be, that the planet needs us to be."

What we do know is that the I – or I MiEV – will be going on sale. That if you consider a sale to be an arm and a leg then it is cheap, $27,990 to be exact. The cool part about it is that you get a $7500 on the federal income credit for being an electric vehicle. So that it about $20,000 and change, being the cheapest electric vehicle on the market. That not all! Living in California, you can be qualified to get yet another CRVP $5000 tax credit, making it a round $15,000. Now that cheap!

The best part about the whole thing that you don’t have to wait in till it comes out to get it. Simply go to i.mitsubishicars.com and give them a $299 PayPal deposit plus $99 for a mandatory home electric inspection. But if you're one of the first 2000 people to put down a deposit, Mitsubishi will wave the $99 fee. Demo cars will show up at dealerships in November, and actual cars will be charging away in customers garages come January of 2012.

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