The Korea Herald


Hyundai Mobis seeks bigger presence in global markets

By Kim So-yeon

Published : April 24, 2023 - 14:10

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Hyundai Mobis' exhibition booth at the Consumer Electronics Show 2023 in Las Vegas (Hyundai Mobis) Hyundai Mobis' exhibition booth at the Consumer Electronics Show 2023 in Las Vegas (Hyundai Mobis)

Hyundai Mobis, a car parts maker affiliated with Hyundai Motor Group, said Monday it reached a total of $46.5 billion in overseas orders last year, a record figure that nearly doubled on-year.

Its unique sales strategy, among other things, has proved effective in appealing to global carmakers, the company said.

Hyundai Mobis currently operates sales units in its key production bases globally and the extensive global network now helps it secure a footing in the burgeoning parts market for electric vehicles.

Alongside its sister carmakers Hyundai and Kia, the company said it has increasingly diversified its clientele.

Last year, Hyundai Mobis won a total of eight awards from international trade exhibitions, being recognized for its advanced technology in future mobility.

During the Consumer Electronics Show held in Las Vegas in January, the company showcased its latest mobility technologies, especially technology used in autonomous driving, electrification and connectivity, while unveiling two concept models of purpose-built vehicles -- M Vision To and HI.

The company also used the world’s largest tech show as an occasion to hold business meetings by setting up a separate private booth exclusively for potential buyers.

A total of 19 automotive parts were displayed at the booth for the first time as they are ready for mass production in line with new orders. They included four winners of innovation awards at this year’s CES such as a swivel display, a 25-inch wide head-up display, a brain-based driver monitoring system called “M Brain,” and a light-weight suspension.

During the weeklong CES show, some 150 officials from potential client companies visited the private booth, the company said.

“A trade show is an occasion where we can hold meetings with many clients in one place,” a Hyundai Mobis official said. “Many corporate clients, especially those in the US and Europe, have shown keen interest in our electrification and infotainment solutions during the exhibitions, leading to tangible results such as supply deals.”

During the CES, Hyundai Mobis also agreed to join hands with Qualcomm, the US chip giant, to develop an integrated autonomous driving controller, a crucial device for Level 3 autonomous driving.

Hyundai Mobis plans to develop a software platform for the controller using Qualcomm chips and to start promotional activities in the first half this year.