Hyundai Motor Company and Kia Corporation have entered into a strategic partnership with Infineon Technologies AG, a leading global semiconductor company, to ensure a stable supply of power semiconductors in response to the growing global demand for electric vehicles (EVs).
Under this agreement, Hyundai and Kia will procure essential power semiconductors for automotive applications, including diode, insulated-gate bipolar transistor (IGBT), and silicon carbide (SiC) power modules. This collaboration builds upon a longstanding relationship between the parties, which began in the early 2000s and includes previous joint research initiatives focused on optimizing vehicle electricity performance.
The partnership aims to bolster the performance of Hyundai Motor and Kia’s electrified vehicles, including all-electric, hybrid, and plug-in hybrid models. Additionally, the automakers will receive a supply of power semiconductors from Infineon to meet the demands of their electrified vehicle lineups through 2030.
Heung-soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group, emphasized the strategic importance of the partnership, stating, “Infineon stands as a valued strategic partner, boasting steadfast production capabilities and distinct technological prowess within the power semiconductor market. This partnership not only empowers Hyundai Motor and Kia to stabilize its semiconductor supply but also positions us to solidify our leadership in the global EV market, underpinned by our competitive product lineups.”
Peter Schiefer, Division President Automotive of Infineon, expressed the company’s commitment to advancing the future of automotive technology: “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.”
This collaboration comes as Hyundai and Kia have raised their 2030 annual EV sales targets to 2 million units and 1.6 million units, respectively. Infineon’s renowned expertise and production quality are expected to play a significant role in helping both companies achieve these ambitious goals.
Semiconductors are vital components in modern vehicles, especially in EVs, where they are utilized for powertrain management, battery control, safety systems, and infotainment. The demand for semiconductors has surged with the rise of EVs, which require more sophisticated chips, particularly as autonomous driving technologies become more prevalent.
This partnership underscores Hyundai Motor and Kia’s strategic approach to securing essential components and enhancing their competitive edge in the rapidly evolving automotive landscape. The collaboration may pave the way for further expansion with global partners to ensure a stable supply chain for critical semiconductor components beyond power semiconductors.