Lee Hyo-sik is Finance Desk editor at The Korea Times. He manages finance-related stories on macroeconomics, banks, stocks, bonds, crypto etc. He is passionate about covering what's happening in Korea's financial industry and explaining it to both Korean and non-Korean readers. You can reach him at leehs@koreatimes.co.kr. Your insights and feedbacks are always appreciated.
Novelis named 'supplier of the year' by Hyundai Motor Group
Novelis Korea's automotive aluminum sheet rolling facility in Ulsan / Courtesy of Novelis
By Lee Hyo-sik
By Lee Hyo-sik
Novelis, the leading sustainable aluminum solutions provider and world leader in aluminum rolling and recycling, said Tuesday that it received the “2022 Supplier of the Year” award from Hyundai Motor Group at the automaker's annual partnership day held Feb. 3.
Korea's largest automaker honored Novelis in the material supplier category based on the comprehensive evaluation of all of its aluminum and steel material suppliers in the areas of supply chain reliability, quality and technical support. Novelis is the first-ever aluminum sheet provider to win the title of supplier of the year from the carmaker.
Novelis currently supplies automotive aluminum sheets produced at its rolling facility in Ulsan for inner and exterior applications for Hyundai Motor Group's Genesis brand, as well as its electric vehicle (EV) models. Novelis' high-strength, high-formability and lightweight aluminum solutions are applicable to various automotive parts such as hoods, doors and tailgates, full body structures and EV battery enclosure, a company official said.
“We are honored to be the first aluminum sheet maker that has won this recognition as Hyundai Motor's partner for material innovation,” said Sachin Satpute, president of Novelis Asia. “With more than 50 years of experience and technical expertise in automotive aluminum production and recycling, we are looking forward to expanding our partnership with Hyundai Motor toward our shared goal of carbon neutrality.”
Novelis is the world's largest supplier of aluminum sheets to the automotive industry and is the only aluminum supplier with automotive sheet capacity on all three major auto-producing continents ― Asia, Europe and North America. In Ulsan, Novelis is currently building a new $50 million aluminum recycling facility. With an annual casting capacity of 100 kilotons of low-carbon sheet ingots, the center is expected to reduce Novelis' carbon emissions by more than 420,000 tons each year.