Almac, a Korean electric vehicle (EV) parts company, announced on Jan. 18 that it has signed a new contract with Kenona, a U.S. EV parts company, to supply EV platform frame parts worth 10.7 billion won (US$8.00 million).
The ordered parts will be supplied from February to October. Almac will supply Kenona with electric vehicle platform frame parts totaling 106.9 billion won by 2030.
Kenona was founded in 1988. The company produces steering and powertrain components and supplies them to Ford, GM, Chrysler, and Toyota.
The EV platform frame parts to be supplied by ALMEC will be supplied to EV manufacturers after further processing.
Despite the overall poor performance of the electric vehicle and secondary battery industry, Almac has received much attention from global auto parts companies.
This is because Almac’s ultra-precision extrusion technology and shock absorption material technology or crush alloy technology have been highly recognized by the global market.
“In order to scale up our production capacity, we have been investing in a new production facility in Montgomery, Alabama of the United States along with a logistics company since 2023,” an Almac representative said. “The new production facility is expected to produce 1.5 tons per year in 2026.”