Tesla ordered Cybertruck parts worth more than $227 million from Seoyon E-Hwa. The South Korean company confirmed the order recently.
Seoyon E-Hwa is part of KOSPI or the Korean Composite Stock Price Indexes. KOSPI is a series of indexes tracking the overall Korean Stock Exchange. Seoyon E-Hwa manufactures automotive interior parts such as door panels, bumpers, seats, headliners, rear parcel shelves, package trays, screen assemblies, and pillar posts.
Tesla placed a 300 billion won ($227 million) order for A, B, and C pillar parts from Seoyon E-Hwa. The pillars will be used to connect the body and roof of the vehicle. The Cybertruck manufacturer signed a three-year supply contract until 2028
with the South Korean company.
Seoyeon E-Hwa rented a factory in Monterrey, Mexico, for about 13 billion won (more than $9 million) to produce Tesla Cybertruck parts. The company plans to dispatch expatriates to make Cybertruck parts in Mexico as early as June.
Tesla Cybertruck preparations have been on hyperdrive lately as pre-production nears. The Texas-based company will hold a Cybertruck delivery event later this year.
“Well, I think we’ll save that for the Cybertruck handover, which will hopefully be around the end of Q3 this year,” replied Elon Musk to a question about Cybertruck features during the Q1 2023 earnings call.
“And one thing I’m confident of saying is that it’s an incredible product. It’s a Hall of Famer, I think. And a product like this only comes along once in a long while. So people will not be disappointed at all. It’s amazing,” Musk commented.