Hyundai Mobis is currently in the final stages of officially launching its two new subsidiaries dedicated to module and parts manufacturing. They have established the names for these subsidiaries, setting the groundwork for their operation as part of the Hyundai Motor Group.
On the 7th, Hyundai Mobis announced that it has confirmed the name of the module production subsidiary as ‘MOTRAS’ and the parts production subsidiary as ‘UNITUS’ to strengthen its medium to long-term business competitiveness.
The name MOTRAS, which handles the production of large-scale automotive modules, is a combination of Module and Transform, embodying the brand value of continuously evolving through its proprietary technological capabilities.
The subsidiary UNITUS, which focuses on the production of key components such as chassis parts, electrified components, airbags, and lamps, combines the words Unit (part technology) and the French word Tous (unity), reflecting a corporate culture of being united based on its innovative technological capabilities.
Hyundai Mobis has traditionally operated its production facilities through multiple small specialized manufacturers, but with the establishment of these two integrated subsidiaries, they aim to enhance competitiveness through production efficiency and respond swiftly to the global market environment.
Industry insiders believe that by hiring existing employees from specialized manufacturers into full-time positions at the subsidiaries, this could also contribute to stabilizing the labor relations currently facing societal issues, thereby enhancing medium to long-term business competitiveness.
On the 5th, Hyundai Mobis decided to invest a total of 70 billion KRW in cash contributions to the specialized subsidiary through an extraordinary board meeting. This will result in Hyundai Mobis owning all the shares of the subsidiaries. Additionally, they plan to conduct asset evaluations and implement physical investments by the first half of next year.
Hyundai Mobis is set to apply for corporate registration on the 11th and plans to complete the necessary processes for establishing the subsidiaries and launch them in early November.
These specialized subsidiaries are expected to achieve sales of around 500-600 billion KRW each next year and aim to gradually expand their sales performance through production efficiency and responsible management.
By Jang Jin daedusj@autodiary.kr