Hyundai Mobis, riding the wave of “electrification,” set a new record in overseas orders last year for complete vehicles, surpassing their annual target by a significant margin and heralding the era of 10 trillion won in overseas orders for the first time. The company plans to continue this momentum by tightening its focus on key components for future mobility this year.
Last year, Hyundai Mobis successfully secured $9.22 billion (approximately 12.2 trillion won) in orders from overseas automotive manufacturers in North America and Europe. This achievement is a remarkable 72% increase over their initial target of $5.36 billion, marking the largest order performance in the company’s history.
The explosive rise in overseas orders for Hyundai Mobis last year was significantly driven by large-scale electrification component orders from European automotive manufacturers. The company successfully secured orders for battery systems, a core component of electrification, from a German automotive brand last year.
This battery system is expected to be installed on the next-generation electric vehicle platforms of these manufacturers, and Hyundai Mobis plans to establish a new production site near their factory in Europe to ensure stable supply of components.
In addition, Hyundai Mobis has built continuous trust with various major automotive manufacturers through stable mass production quality and local production base operations, which has led to remarkable overseas order achievements.
Continuous and proactive investments in research and development are also considered key factors behind the increase in overseas orders. Last year’s R&D investment by Hyundai Mobis amounted to 1.64 trillion won, a figure roughly 20% higher than the previous year, showing a steady increase in R&D expenditure annually. The company is securing differentiated product competitiveness in crucial future mobility fields such as electrification, autonomous driving, and connectivity, building on this to achieve overseas order success.
This year, Hyundai Mobis intends to actively pursue new overseas customer acquisitions, focusing on strategic components in areas like electrification, electronics, lighting, and chassis. The company plans to strengthen its order portfolio with various new technology applications such as augmented reality head-up displays (AR-HUD), advanced driver-assistance systems (ADAS), independent rear-wheel steering systems (RWS), and rollable displays, centered around key electrification components that have opened new avenues for large orders. Hyundai Mobis has set an overseas key component order target of $9.34 billion this year, marking an aggressive goal to carry on last year’s momentum.
To tighten overseas order pursuits, Hyundai Mobis actively engaged in business activities with various global customers at CES 2024 held earlier this month. The company prepared a dedicated space for customer interactions at CES, showcasing 20 types of mobility technologies ready for immediate mass production, including transparent displays and 22Kw integrated charging control modules (ICCU).
Lee Sang-jin daedusj@autodiary.kr