All data are based on the daily closing price as of September 16, 2024

Hyundai Rotem Secures $176 Million Train Order from MBTA, Strengthening U.S. Presence

The South Korean company continues its expansion in the U.S. with a third contract for double-decker cars
South Korea
h 064350.KO Mid and Small Cap 2000
Share this on

Hyundai Rotem has further cemented its presence in the U.S. railway market by securing a $175.79 million contract with the Massachusetts Bay Transportation Authority (MBTA) for the supply of double-decker train cars. This marks the third time the South Korean manufacturer has been selected by the MBTA, following successful contracts in 2008 and 2019.

The new double-decker cars are part of MBTA’s efforts to accommodate growing commuter numbers in the Greater Boston area and replace aging fleet. Hyundai Rotem’s proven reliability, including delivering the initial batch of cars five months ahead of schedule during the pandemic, played a key role in winning this contract.

Since entering the U.S. market in 2006, Hyundai Rotem has expanded its portfolio, winning contracts in California, Florida, Pennsylvania, and Colorado. Earlier this year, the company also secured a contract to supply electric trains for the Los Angeles Metro, further demonstrating its growing influence in the U.S. transportation sector.

As part of its commitment to long-term success, Hyundai Rotem plans to enhance post-delivery support by updating maintenance manuals and ensuring operational efficiency. With its strong track record and effective project management, the company aims to continue responding to increasing demands in the U.S. railway market.

 

 

Share this on
Jakota Newsletter

Stay ahead in the JAKOTA stock markets with our roundup of vital insights

Icon scroll to top