Hyundai Rotem wins $176 million order to supply rail cars to Massachusetts

Industry

Hyundai Rotem wins $176 million order to supply rail cars to Massachusetts

Published: 16 Aug. 2024, 16:17

SARAH CHEA
chea.sarah@joongang.co.kr

Hyundai Rotem's bi-level rail cars supplied to the Massachusetts Bay Transportation Authority [HYUNDAI ROTEM]

Hyundai Rotem won a $175.8 million order from the Massachusetts Bay Transportation Authority to supply 41 bi-level commuter rail cars, the Korean company said Friday.

The order adds on to the Korean company's previous deal in 2019 where it agreed to supply 83 cars. Of them, 76 cars were already delivered.

The recent deal is aimed "to replace an aging fleet and improve riders’ experience across the regional system," Hyundai Rotem said.

The delivery will be finalized within the year, it said.

“We will always strive for excellence so that we can deliver the cars that can lead to customer satisfaction on time,” said Hyundai Rotem CEO Lee Yong-bae. “Hyundai Rotem will actively participate in the future U.S. Rolling Stock Market by utilizing its past performance of cooperating with local transportation authorities.”

Hyundai Rotem first entered the U.S. market in 2006 and has won orders from various state-run projects based in California, Florida and Pennsylvania.

In January, Hyundai Rotem clinched a $664 million metro train deal with Los Angeles.

Hyundai Rotem shares closed at 54,400 won on Friday, down 0.37 percent from the previous trading session.

BY SARAH CHEA [chea.sarah@joongang.co.kr]