Heung-soo Kim, Executive VP Hyundai Motor Group, Peter Schiefer, Division President Automotive, Infineon at the signing
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.
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.
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.
