Vitesco, the powertrain company spun off from Continental last year, has won a 2 billion-euro ($2.1 billion) contract to supply electric-drive modules to Hyundai Motor Group for small and compact electric cars.
The contract was announced in March by Vitesco CEO Andreas Wolf, but no details were given. Vitesco said Monday it would provide Hyundai with its EMR4 integrated drive system, which includes an electric motor, a gearbox and axles, and power electronics.