Mando Corp., a global auto parts company, has won an order for 50 million suspension products from Volkswagen Group.
It is the largest single suspension item in Mando history. Mando, a strategic partner of Volkswagen, will produce and supply suspension products in Europe from June next year to 2033.
This order included most of the major models of Volkswagen's next-generation electric vehicle platform (MEB) Europe, best-selling passenger models of internal combustion engines such as the VW brand and AUDI brand, and many commercial models.
There are about 10 types of passenger cars, including golf, Tiguan, and Passat, while commercial cars are Caddy. In general, four suspension parts are equipped with one vehicle, which amounts to 6 million (Peak) orders per year.
CEO of Mando Cho Sung-hyun said, "This order for Volkswagen's electric vehicle platform suspension will be a turning point for Mando's business in Europe. As Mando has become a strategic partner of Volkswagen Group, we will also seek cooperation in other chassis products."
Mando is also planning to cooperate with China's Volkswagen on the back of its European order. Mando suspension has a production base in Ningbo, starting with mass production in Beijing, China (2002). Last year (2020), Mando China supplied 14 million suspension units for 3.5 million vehicles to local automakers.
The Volkswagen order is meaningful to Mando. Mando is moving toward its vision with various growth engines such as entering the European electric vehicle market in earnest, actively targeting the Chinese Big 3 market, and expanding its suspension aftermarket business.
