Hyundai Mobis achieved overseas orders worth $4.65 billion (approximately 5.7 trillion KRW) last year, marking its highest performance since the early 2000s when it began aggressively pursuing overseas orders for key automotive components. This figure not only exceeded its original target but also represents nearly a doubling from the previous year.
The expansion of Hyundai Mobis’s overseas orders has been attributed to the establishment of stable production bases globally and the implementation of aggressive order activities centered around specialized sales organizations.
Additionally, electrification components have solidified their position as key products for orders, contributing to this growth.
Hyundai Mobis’s global orders pertain to overseas finished car manufacturers, excluding Hyundai and Kia. This global order activity, often referred to as the non-captive market, is credited with driving both the expansion and the competitive strength of Hyundai Mobis. In its recent announcement of 2022 business results, the company reported a record revenue of 51.9 trillion KRW.
Hyundai Mobis’s expansion in global orders is the result of large-scale orders for high-value core components, including ADAS (Advanced Driver Assistance Systems) in North America, Europe, and China. The company has also seen significant growth in overseas orders focused on electrification components. Furthermore, the previously North America-centric overseas order ratio has substantially widened to include major European brands. However, due to company policy, specific brands and products related to overseas orders are not disclosed.
Hyundai Mobis’s global orders have seen continuous growth over recent years. Following orders of $1.75 billion in 2020 and $2.5 billion in 2021, the total reached $4.65 billion last year—almost a doubling in figures. This year, they have set an ambitious order target of $5.36 billion.
Axel Maschuka, head of Hyundai Mobis’s sales division, stated, “With overseas awards and new technology development, we are receiving love calls from global OEMs. Based on trust with both existing and new customers, an estimated growth of around 15% is expected this year.”
The success of Hyundai Mobis’s orders last year was driven by proactive investments that enabled the expansion of stable production bases and a key customer management organization called KAM (Key Account Management) dedicated to order expansion across various production sites. Currently, Hyundai Mobis operates 44 global production bases and conducts aggressive marketing centered around local sales organizations.
Meanwhile, Hyundai Mobis is participating in major global exhibitions such as CES, Germany’s IAA, and the North American Auto Show to introduce the company’s future vision and new technologies. Activities are also being expanded to include independent tech shows targeting European automakers. Alongside this effort, the company is received positive reactions globally, having won awards such as the CES Innovation Awards, PACE Awards, and iF Design Awards.
In-sung Jin daedusj@autodiary.kr