Tesla ordered Cybertruck parts worth more than $227 million from South Korean company Seoyon E-Hwa, which confirmed the order recently.
Seoyon E-Hwa is part of the Korean Composite Stock Price Indexes (KOSPI), 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 $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 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,” Elon Musk replied 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 said.