Hyundai and Kia secure semiconductor supply from Infineon

Hyundai Motor Company and Kia Corporation have signed a new strategic partnership with global semiconductor leader Infineon Technologies AG to secure power semiconductors in support of the growing electric vehicle demand worldwide.

Under the agreement, Hyundai and Kia will purchase core power semiconductors, needed for their electrified models, from Infineon through 2030. The new agreement will also see Hyundai and Kia working closely with Infineon to improve the performance of their all-electric, hybrid and plug-in hybrid lineups.

The firms are said to have worked together on the development of sensor components since the early 2000s. The firms also operated a joint research centre between 2007 and 2020.

Infineon's 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 electric vehicle sales targets to two million units and 1.6 million units, respectively.