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INZI Controls Shifting Business Focus to EV Components

INZI Controls, headquartered in Siheung city, South Korea, is an automotive parts manufacturer founded in 1978. The company develops and manufactures battery module parts for BEVs and products that utilize lightweight technology, with a focus on automotive thermal management systems. In addition to its headquarters and factories in South Korea, the company has production bases in China, the United States, India, Hungary and Malaysia, and sales offices in Japan, the United States and Germany. INZI Controls’ main customers include domestic and foreign automakers such as Hyundai, Kia, GM, VW and Audi.

Originally, INZI Controls’ main products were thermostats, but in 2004, the company strengthened its engineering plastic parts business by launching a new plant. Since then, sales of lightweight parts such as intake manifolds and cylinder head covers have increased. Since the end of the 2000s, in anticipation of the decline in the use of conventional cars, INZI Controls has also focused on developing non-engine components. In 2018, the company began developing and supplying an integrated thermal management system in preparation for the rising demand for FCEV parts. Full-scale production of BEV battery modules started in 2020 and has been shifting its business focus from parts for conventional vehicles to components for electric vehicles ever since.

INZI Controls, which has set its sights on diversifying its products, aims to increase sales overseas to avoid too much dependency on its current supply destinations. While exports already account for 60% of the company’s total sales, INZI Controls is expanding supply to emerging markets especially China, the world’s largest automobile market, and India.

Graph: INZI Controls: Consolidated Sales / Operating Profit Margin (FY 2013-2022, FY Q1 / Q2 2021-2023)
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