Hyundai to Build Parts in U.S. for Chrysler

Hyundai Mobis Co., South Korea’s largest auto parts maker, will build chassis frames in the U.S. for DaimlerChrysler’s Chrysler unit in a deal valued at about $155 million a year.

Mobis will assemble chassis frames with engines, transmissions, brake systems and about 300 other components for Chrysler’s sport utility vehicles at the U.S. automaker’s plant in Toledo, Ohio, under a long-term agreement, the Seoul-based company said.

Chrysler and its suppliers will invest a total of $900 million in Toledo to produce redesigned versions of the Jeep Wrangler and Liberty sport utility vehicles, the company said.