China Overtakes Korea in Number of Top 100 Companies
Hyundai Mobis retained seventh place in sales among the world’s 100 major auto parts companies last year. The company was the only Korean auto parts maker in the top 10 list.
The Korea Automobile Manufacturers Association (KAMA) announced on Oct. 2 an analysis of the data of the world's top 100 parts companies compiled by the U.S. Automotive News.
According to KAMA, seven Korean auto parts companies were included among the global top 100 in 2017, but the figure was reduced to six this year due to the merger of Hyundai Powertech (57th) and Hyundai Dymos (59th) into Hyundai Transys in January of this year. The six included Hyundai Mobis (7th), Hyundai Wia (36th), Hyundai Transys (38th), Hanon Systems (46th), Mando (47th), Hyundai Kefico (91st). As a result, Korea placed 5th after China in terms of the number of companies in the top 100.
One Chinese auto parts maker advanced into the top 100 in 2011. In 2013, two made it. The figure rose to six in 2016 and to seven last year. This means that Chinese auto parts makers will grow and accelerate their technology development as China's auto production will swell. More Chinese companies are expected to become members of the top 100 club, KAMA said.