Hyundai Mobis, a part of Hyundai Motor Groups, works in auto parts has announced that it has partnered with US high-end home audio systems manufacturer Krell for Kia’s K7 Premier.
The partnership is a win-win deal as Krell is a high-end audio system manufacturer who wanted to broaden its business into car audio market, on the other hand, Hyundai Mobis needed a global brand name for their car audio products.
The aim of Hyundai behind this partnership is to collaborate with technology-based companies on autonomous driving and connectivity to provide premium audio systems for in-vehicle information to its customers.
The company is planning to deploy audio systems in new vehicles in collaboration with the Krell, which will hit the market in the future. Along with this, according to research done by Value Market Research, the Global Car Audio Market is anticipated to reach USD 26.7 BN by 2024 with a CAGR of 3.5%.
Apart from this, Hyundai Mobis has concluded a contract before two years with Krell to develop car audio systems jointly and also to use the brand name of Krell for the development of new products.
The company, Hyundai Mobis has said in a statement that they have successfully installed 12 speakers and a 12-channel amp in Kis’s K7 premier for creating a deeper audio experience for the passengers.
Senior vice president of Hyundai Mobis, Chung Jeong-hwan said that they will lead the premium sound market for in-vehicle use in partnership with Krell, a leader in hi-fi audio.
About Hyundai Mobis
The company has its own audio technology, but its products are no match from global brands like Harman in terms of technology and recognition. Moreover, the entry barrier is high for the company in the audio market, as the audio market targets a big pool of manias.
About Krell Industries
The company is one of the largest manufacturers of home audio in America, and for the first time in 2013, the company has entered into the vehicle audio market by teaming up with Japan’s Honda. Furthermore, the company has expanded its business to Kia motors in 2016 and now to Hyundai Motors.
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.