BMW Korea hosted event for automotive part suppliers
theinvestor.co.kr, 27 Nov '19
German-based luxury carmaker BMW Korea announced recently that it had hosted the "BMW Group Supplier Day 2019" event at the Grand Hyatt in Incheon.
According to the company, it decided to host the event to take some time to appreciate its suppliers from diverse field's cooperation and also share visions to strengthen their partnership further.
More than 30 local suppliers of BMW Group participated in the event.
Andreas Wendt, a member of the board of BMW, also took part in this event by delivering a keynote speech.
"All Korean suppliers are extremely innovative and they are playing a crucial role in co-developing technologies for BMW's future vehicles," Wendt said during his speech. He also emphasized that this innovative mindset and advanced technology of Korean suppliers are crucial for BMW, so it plans to further strengthen the partnership.
The amount the BMW Group buys from Korean suppliers increased dramatically from EUR 70 million (US$ 77.44 million) in 2012 to EUR 1.5 billion in 2018.
During the event, the supplier also experienced driving cars at the BMW Driving Center in Yeongjong Island, Incheon.
Recently BMW Group signed a long-term contract with Samsung SDI, a battery-making unit of Samsung Electronics, to receive fifth-generation battery cells worth around EUR 2.9 billion from 2021 to 2031 period.
