Daesung Eltec (CEOs Park Sang-kyu, Park Jae-bum) signed a contract with Alpine in Japan to supply all-in-one car navigation systems worth 52 billion won in all. A total of 210,000 units of its AVN, or audio video navigation, products are supplied over two years from January 2013 to auto parts shops in the Americas, Europe and the Middle East through Alpine’s sales networks.
AVN is a car audio system supporting video playback, navigation, etc. The design is difficult since different features have to be put in a limited space. Also, it requires high manufacturing costs due to additional operating platforms required depending on region. Daesung Eltec, however, has secured its own design technology through the agreement with Alpine.
The Korean company is trying to increase its production capacity as well to better respond to the surging market demand. It is planning to invest 0.7 billion won in its plant in Qingdao, China by the end of this year to expand the surface mounting equipment.
