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Hanon Systems Continues to Lead Global E-mobility Thermal Market as a Core Supplier for Eco-friendly Vehicles
Company intensifies efforts to deliver value-add eco-friendly solutions to the global automotive industry
SEOUL, South Korea, Aug. 12, 2020 – Hanon Systems (KS: 018880), a leading global thermal and energy announced the company was selected to present its success story – A case of transformation into future mobility – at the Future Mobility Conference hosted by the K-New Deal Committee of the Democratic Party of Korea. Hanon Systems was the only company requested to present its industry-leading story at this event.
According to the recent report by Bloomberg New Energy Finance (BNEF), the share of eco-friendly cars is expected to account for more than 60 percent of total car production by 2030. In the rapidly growing e-mobility market, thermal and energy management plays an important role. Since the average unit price of the parts is approximately four times higher than that of internal combustion engine vehicles, the barrier to entry is high, which requires highly advanced technology.
Hanon Systems is equipped with diverse products that includes advanced technologies to manage thermal energy of future mobility for electric vehicles (EVs), fuel cell electric vehicles (FCEVs) and autonomous vehicles. For EVs, Hanon Systems is a leading supplier of highly efficient heat pump systems. Powered by an innovative electric compressor to recover waste heat and extend vehicle driving range, particularly in winter when heating the cabin is necessary. For FCEVs, Hanon Systems supplies an innovative air compressor that delivers oxygen to generate electricity and a high-voltage cooling fan motor for cooling the fuel cell stack. Other technologies include an independent cooling system, which also can be applied to autonomous vehicles to effectively manage the heat generated by the vehicle’s battery and electronics.
At the event, Jeong Won (Jay) Son, president and chief executive officer of Hanon Systems said, “Our long devotion to developing leading technologies to support future mobility is based on our strong global client base. Hanon Systems will continue its efforts to maintain a leading position in the global thermal and energy management mobility market, and further strengthen its competitiveness to secure long-term sustainability as a company.”
For more than three decades, Hanon Systems continues to deliver outstanding achievements and grow its business. Since its inception as Halla Climate Control Corp. (HCC), the company grew in size and breadth when Visteon Corp. combined its climate business to form Halla Visteon Climate Control. Recently, the company’s acquisition of the global fluid pressure and controls business of Magna International, Inc. further bolstered the company’s product portfolio, global footprint and technological capabilities.
The company continues to expand its capability to support the future e-mobility market by investing a total of 1.35 trillion KRW over the past five years following the company’s acquisition by Hahn & Co.
Hanon Systems is proactively responding to the industry shift to environmentally friendly vehicles by strengthening its foothold in the global automotive market with new business and enhanced capabilities.