Hyundai Wia announced on Jan. 24 that it signed contracts to supply a total of 1.450 trillion won (US$1.086 billion) worth of constant velocity joints with European and North American automakers in 2023.
Constant velocity joints are core parts of automobiles that transmit power generated by motors or engines to the wheels. Hyundai Wia has been manufacturing constant velocity joints for more than 30 years since 1988. By doing so, the company now has the highest level of quality in the constant velocity joint sector.
Hyundai Wia has been continuously developing constant velocity joints based on this technological prowess. The company succeeded in minimizing noises from constant velocity joints and their vibrations while significantly reducing their weight. It developed high-efficiency and low-vibration constant velocity joints specialized for electric vehicles (EVs). In addition, it is actively responding to the diverse needs of customers by separately developing constant velocity joints for very large vehicles. More than 90 percent of its total orders are for eco-friendly vehicles such as EVs.
Hyundai Wia also developed a functionally integrated drive axle (IDA) that combines an existing constant velocity joint with adjacent systems. The IDA integrates a drive shaft, which is an axle that transmits power to wheels, and wheel bearings that connect the drive shaft to wheels. By doing so, Hyundai Wia has reduced component weight and increased rigidity, significantly boosting vehicle driving performance. The IDA goes into Hyundai’s IONIQ 5 and Kia’s EV6.
Hyundai Wia’s production of constant velocity joints is also growing rapidly. In 2017, Hyundai Wia became the first Korean auto parts company to exceed 100 million units of constant velocity joints. Its annual constant velocity joint production climbed to 13.12 million units last year from 11.44 million in 2019.
Hyundai Wia minimizes logistics costs through global production bases. Currently, the company produces more than 5 million constant velocity joints annually through its overseas subsidiaries including those in Jiangsu of China, India and Mexico. Hyundai Wia plans to utilize its global production bases to efficiently deliver constant velocity joints and provide technical support.