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

Double-deck rail cars delivered by Hyundai Rotem to the Massachusetts Bay Transportation Authority [HYUNDAI ROTEM]

Hyundai Rotem has received a $175.8 million contract from the Massachusetts Bay Transportation Authority to supply 41 double-deck commuter rail cars, the Korean company said on Friday.

The order supplements an earlier contract signed by the Korean company in 2019, in which the delivery of 83 cars was agreed. Of these, 76 cars have already been delivered.

The latest deal aims to “replace an ageing fleet and improve the passenger experience across the regional system,” Hyundai Rotem said.

Delivery will be completed within this year, it was said.

“We always strive for excellence so that we can deliver cars on time that satisfy our customers,” said Lee Yong-bae, CEO of Hyundai Rotem. “Hyundai Rotem will actively participate in the future U.S. rail vehicle market, leveraging its past cooperation with local transportation authorities.”

Hyundai Rotem first entered the US market in 2006 and received orders from various government projects based in California, Florida and Pennsylvania.

In January, Hyundai Rotem signed a subway contract with Los Angeles worth $664 million.

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

BY SARAH CHEA [[email protected]]