Sol. South Korean carmakers Hyundai Motor and Kia on Wednesday said they have entered into a strategic partnership with German automotive chip maker Infineon Technologies AG to secure its power semiconductor supply chain.
Under the deal signed in Munich, Germany, the companies will collaborate to develop power semiconductors, a key component for eco-friendly cars to control and convert electric power, reports news agency Yonhap.
Hyundai and Kia will also source a portion of their power semiconductors from Infineon for the production of electric and hybrid vehicles by 2030, he said.
Infineon is a world leader in the automotive chip market, with a product portfolio that includes automotive microcontrollers, power semiconductors and sensors.
Hyundai and Kia have been working with the German company since the early 2000s.
Hyundai and Kia’s parent Hyundai Motor Group said the partnership will help the company lead the global electric vehicle industry by securing a supply chain for eco-friendly cars.
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