Seoul, October 18: South Korea's leading carmakers Hyundai Motor and Kia said on Wednesday that they have inked a strategic partnership with the German automotive chipmaker Infineon Technologies AG, so as to secure its power semiconductor supply chain. Under the deal, sealed in Munich, Germany, the companies will cooperate in developing power semiconductors, a key component for eco-friendly cars to control and convert electric power, according to the South Korean companies, reports Yonhap news agency. Mercedes-Benz GLE Facelift, Mercedes-Benz AMG C 43 To Launch on November 2: Here's Everything To Know About Specification, Price and Other Details.

Hyundai and Kia will also source a portion of their power semiconductors from Infineon for the production of electric and hybrid vehicles through 2030, they added. Infineon is a world leader in the automotive chip market, with a product portfolio that includes automotive microcontrollers, power semiconductors and sensors. Safer Cars for India List by Global NCAP: From Tata Safari and Harrier to Mahindra Scorpio N, Top 10 Indian Cars That Provide More Safety.

Hyundai and Kia have been working with the German company since the early 2000s. Hyundai Motor Group, the parent of Hyundai and Kia, said the partnership will help the company take the lead in the global electric vehicle industry by securing a reliable supply chain for their eco-friendly cars.

(The above story first appeared on LatestLY on Oct 18, 2023 03:54 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website