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Report: Hyundai Mobis agrees to $1.1B auto parts supply deal with GM

Hyundai Mobis Co. Ltd said it had secured an eight-year, $1.1 billion agreement to supply General Motors Co. with auto parts, Yonhap news agency reported on May 29.

Hyundai Mobis, South Korea's largest auto parts maker by sales, said it recently had been chosen as one of GM's core parts suppliers, according to Yonhap. It has provided the U.S. car maker with integrated center stacks and other key components since 2010.

GM did not immediately respond to an email from S&P Global Market Intelligence and Hyundai Mobis could not be reached.