South Korea’s largest auto parts maker Hyundai Mobis Co. will shutter one of its U.S. plants for a year to retool the production lines for the new Jeep Wrangler four-wheel drives.

The company said in a regulatory filing on Monday its plant in Toledo, Ohio will stop production of the third-generation JK Wrangler series from April 7 for refurbishment to accommodate the next-generation JL Wrangler lineup.

The year-long suspension is estimated to cost the company 1.44 trillion won ($1.35 billion) equivalent to the annual sales generated by the Ohio plant in 2016, which accounts for 3.77 percent of its consolidated sales in the same period.

Hyundai Mobis said the losses will be covered once it reopens to supply parts for the new Wrangler from next year.

The Ohio plant manufactures complete chassis modules for the Jeep Wrangler sport utility vehicle. The complete chassis module refers to the lower frame on which the body and powertrain are mounted, consisting of the suspension, steering and brakes that cover half of the parts in a finished vehicle.

Hyundai Mobis operates plants in Toledo, Ohio and Detroit, Michigan, where it makes auto parts for Fiat Chrysler Automobiles and its Jeep, Chrysler and Fiat models.

Shares of Hyundai Mobis closed Tuesday down 1.6 percent at 245,500 won.

By Kim Jung-hwan and Kim Hyo-jin

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