Hyundai and Kia sign partnership with Infineon to secure semiconductors for electric vehicles
Hyundai Motor Company and Kia Corporation 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 centre between 2007 and 2020 to optimise 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,” said Heung-soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group. “This partnership not only empowers Hyundai Motor and Kia to stabilise its semiconductor supply but also positions us to solidify our leadership in the global EV market, underpinned by our competitive product lineups.”
“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,” said Peter Schiefer, Division President Automotive of Infineon. “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.”
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.