Leading competitors in the worldwide and regional markets for electric vehicle relays are consolidating and leading the EV relay market. To maintain their market positions, the businesses use tactics including partnerships and the introduction of new products. For example, LS e-Mobility Solutions, an EV component-focused subsidiary of LS Electric Co., was awarded a USD 187 million supply contract in August 2023 to supply relays for electric vehicles produced by Hyundai Motor Co. and Kia Corp. The supply of EV relays for electric vehicles is covered by the agreement. Delivery of the components is expected to occur in the first half of 2025.
Here are some leading players in the EV relay market:
Author Credits: Saima Khursheed
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