South Korea's largest car parts maker Hyundai Mobis Co (012330.KS) has won a $2 billion order from Chrysler for chassis modules to be used in two Chrysler car models, sending its shares up more than 7 percent.
Hyundai Mobis said in a statement on Wednesday that the modules would be supplied for Jeep Grand Cherokee and Dodge Durango models that Chrysler LLC CBS.UL would start producing at its plant in Detroit from 2010.
Mobis, an affiliate of top South Korean auto maker Hyundai Motor Co (005380.KS) and Kia Motors Corp (000270.KS), plans to begin pilot production of the front- and rear-chassis modules at new facilities from February. The facilities will be built adjacent to the Chrysler plant.
Mobis has been supplying complete chassis modules for Chrysler's Jeep Wrangler models since 2006, the statement added.
Shares in Mobis trimmed earlier gains, up 5.0 percent to 146,500 won by 0215 GMT against a 0.5 percent decline in the wider market .
(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)