Reporting "Asre Khodro" ,The Seoul-based company recently concluded a deal with Iran Khodro Group, Iran’s largest car producer, to sell its independently developed body control units, (BCMs) to the local carmaker, according to Korea’s Pulse News.
A BCM is a vehicle’s electronic control unit that monitors and controls various electronic accessories like power windows, power mirrors, air-conditioning, immobilizer system and central door locking system.
The Korean firm will supply Iran with ۴۸۰,۰۰۰ sets of the BCM over the next six years. The deal is estimated to be worth around $۸۹ million (۱۰۵ billion won or ۲۲ trillion rials).
LS Automotive will also boost its sales in China to more than $۵۷.۶ million by ۲۰۲۰ and add production sites in emerging markets.
The company said on January ۱۶ that it has successfully added eight of China’s top ۱۱ finished carmakers such as the world’s largest electric vehicle manufacturer BYD Co., Jianghuai Automobile Corporation (JAC) and China FAW Group Corporation, to its customer list.
It is currently running two plants in Qingdao and Wuxi in China, which generated $۱۷۸ million in combined sales in ۲۰۱۵.
China is not the only overseas market where LS Automotive is making efforts. It recently laid out a plan to increase presence in India.
The company last month announced its plan to go public in the first half of this year to raise funds for overseas expansion and develop advanced car electronic parts.
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