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South Korean auto parts maker Mando Corp has inked a 1.4 trillion won deal to supply 50 million suspension components from June 2022 through 2033 to Volkswagen Group.
The suspension systems would be built in its European factories.
Both Volkswagen's electric vehicles based and bestselling internal combustion vehicles across its Volkswagen and Audi brands will be equipped with the suspension system.
The suspension systems maximize the vehicle's overall performance by absorbing road bumps make the ride safe and comfortable.
Mando is hopeful that the Volkswagen deal will boost its bid to tap into the European electric vehicle component market.
Volkswagen is in the midst of a shift toward battery-powered cars.
