The upstart Korean supplier that defeated Dana Corp. in Dana's back yard says it did it with high quality and low costs.
Four-year-old Hyundai Mobis was the surprise winner of a plum project to supply complete chassis modules to the Chrysler group's new Jeep plant in Toledo, Ohio. Dana of Toledo was one of the unsuccessful bidders.
The company has no North American manufacturing operations, but it aims to be one of the world's top 10 suppliers by 2010.
To learn about Hyundai Mobis, Chrysler COO Tom LaSorda traveled to Hwasung, South Korea, this year to see its rolling chassis plant.
"This is a big win for Chrysler to be able to bring another global supplier to North America," LaSorda said.
Hyundai Mobis builds rolling chassis for the Kia Sorento at its plant in Hwasung. The modules are delivered to Kia's final assembly line nearby.
Landing the Chrysler contract isa coup for this barely known Asian company. Last week, news of the contract sent Mobis shares soaring on the Seoul stock exchange.