Photo: Tesla | Edited
Tesla Cybertruck is in the "final approach" phase, with production scheduled for the year's end. Things are lining up as Tesla signs up the first suppliers, as revealed by Korean media. Tesla Cybertruck will use interior linings and parts supplied by Seoyon E-Hwa, a company that worked almost exclusively with Hyundai Kia until now.
Tesla is making the final preparations for the Cybertruck production start at Giga Texas. As revealed in earlier pictures shared by Tesla, the production line has been set up, and the EV maker is even considering a boat dock on the Colorado River. As intriguing as it sounds, this is presumably intended to test Cybertruck's abilities "to serve briefly as a boat," as Musk once said. The final pieces of the puzzle are the supply chain for the new model, and recent information indicates that Tesla is already working on this.
Korean news outlet Maekyung informs us that Seoyon E-Hwa, a parts supplier that works almost exclusively with Hyundai-Kia, won a sizeable contract to supply interior linings and other parts for Cybertruck's pillars. Although the company did not want to comment on the deal, the value of the contract is estimated at 300 billion won ($228 million) until 2028. Considering the small value of the parts, this amount can buy a lot of them, hinting at significant production volumes for the Cybertruck.
The contract awarded to Seoyon E-Hwa might be one of the results of Elon Musk's meeting with the South-Korean president Yoon Suk Yeol at the end of April. Although we still don't know what they discussed during that meeting, it was initiated at Musk's request. This implies that Tesla wanted something from South Korea, and Musk offered something in return. Of course, the Korean president would want a Tesla Gigafactory in his country, but this is not yet on the table. Instead, it appears Tesla will sign up more Korean suppliers, with Seoyon E-Hwa's contract just for starters.
Rumor has it that the Korean company is in for a much bigger role in Tesla's supply chain beyond the Cybertruck. Seoyon E-Hwa rented a factory in Monterrey, Mexico, where Tesla is also building its next gigafactory to produce the next-generation compact EV. If that's true, it looks like the Koreans will also supply parts for the mass-volume EV starting in 2025. However, the Korean company will start parts production in Monterrey as soon as this year.
Seoyon E-Hwa is the leading supplier of Hyundai-Kia and specializes in interior and exterior car parts. The company established a presence in Alabama and Georgia and supplied parts to Hyundai Motor and Kia for local production in the US. It also invested in a new factory in Savannah, Georgia, to supply Hyundai Motor Group's future EV-only plants in the region.
The Korean company may have started small with the Cybertruck pillar parts, but it is actively seeking to expand the Tesla contract with more automotive parts. The company declined to comment on the deal, saying it's still a work in progress. It also signed a confidentiality agreement with Tesla, so we won't learn more about this on the official channels.
Korean news outlet Maekyung informs us that Seoyon E-Hwa, a parts supplier that works almost exclusively with Hyundai-Kia, won a sizeable contract to supply interior linings and other parts for Cybertruck's pillars. Although the company did not want to comment on the deal, the value of the contract is estimated at 300 billion won ($228 million) until 2028. Considering the small value of the parts, this amount can buy a lot of them, hinting at significant production volumes for the Cybertruck.
The contract awarded to Seoyon E-Hwa might be one of the results of Elon Musk's meeting with the South-Korean president Yoon Suk Yeol at the end of April. Although we still don't know what they discussed during that meeting, it was initiated at Musk's request. This implies that Tesla wanted something from South Korea, and Musk offered something in return. Of course, the Korean president would want a Tesla Gigafactory in his country, but this is not yet on the table. Instead, it appears Tesla will sign up more Korean suppliers, with Seoyon E-Hwa's contract just for starters.
Rumor has it that the Korean company is in for a much bigger role in Tesla's supply chain beyond the Cybertruck. Seoyon E-Hwa rented a factory in Monterrey, Mexico, where Tesla is also building its next gigafactory to produce the next-generation compact EV. If that's true, it looks like the Koreans will also supply parts for the mass-volume EV starting in 2025. However, the Korean company will start parts production in Monterrey as soon as this year.
Seoyon E-Hwa is the leading supplier of Hyundai-Kia and specializes in interior and exterior car parts. The company established a presence in Alabama and Georgia and supplied parts to Hyundai Motor and Kia for local production in the US. It also invested in a new factory in Savannah, Georgia, to supply Hyundai Motor Group's future EV-only plants in the region.
The Korean company may have started small with the Cybertruck pillar parts, but it is actively seeking to expand the Tesla contract with more automotive parts. The company declined to comment on the deal, saying it's still a work in progress. It also signed a confidentiality agreement with Tesla, so we won't learn more about this on the official channels.
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