Tesla places $227M+ order for Cybertruck parts from South Korea

 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.

The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via Twitter @Writer_01001101.


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