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Tesla Reportedly Awards $260 Million Order to Korean Company for Cybertruck Parts

Tesla Reportedly Award $260 Million Order to Korean Company for Cybertruck Parts

Tesla has reportedly taken a giant step toward Cybertruck production and it looks like the Cybertruck is really coming this year. Koren publication Maekyung writes that it has been confirmed that Seoyeon E-hwa recently won an order for A, B, and C pillar parts for new models(Cybertruck) of the U.S. electric vehicle company Tesla.

This order will be installed in Tesla's first pickup electric vehicle model 'Cybertruck', which is scheduled to be mass-produced at the end of this year.

The product contract period is until 2028, and related sales are expected to reach 300 billion won, which amounts to ($260 million). That's a very serious deal.

Seoyeon E-hwa leased the Monterey plant in Mexico with a budget of about 13 billion won to manufacture Tesla's cyber truck filler parts. A representative for the production of parts will be dispatched to this month.

Also, they apparently have a plant in Alabama, Georgia, and Savanah.

The main products of Seoyon E-Hwa include interior parts, such as door panels, center consoles, headliners, package trays, etc., and exterior parts, such as bumpers, as well as seats for commercial automobiles.

An official from Seoyeon Ihwa said, "It is still underway internally," adding, "There is no issue to talk about the order due to the signing of a confidentiality contract."

Tesla CEO Elon Musk said in a recent conference call with analysts that he expects the first delivery event of the Cybertruck to be held in the third quarter of this year. Seoyon E-Hwa's role in the production of the Cybertruck will be crucial, as the company has won the order for all A, B, and C pillars for the vehicle.

Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.