Two specialized integrated subsidiaries for manufacturing modules and components have been officially launched by Hyundai Mobis. The module manufacturing subsidiary is named ‘MOTRACE’, while the component manufacturing subsidiary is called ‘UNITUS’. The integrated subsidiaries aim to secure independent business capabilities based on specialized manufacturing technology and quality competitiveness, aspiring to become global top-tier production companies.
Hyundai Mobis announced the official launch of the module manufacturing subsidiary MOTRACE and component manufacturing subsidiary UNITUS on the 14th.
Hyundai Mobis had previously announced plans to establish integrated subsidiaries in mid-August and went through an explanation meeting regarding the vision and development plans of the integrated subsidiaries, as well as the procedures for corporate establishment before their official launch.
The name of the module production subsidiary, MOTRACE, is a combination of Module and Transform, signifying its commitment to continuous change based on its own technological prowess.
The component production subsidiary UNITUS is a combination of Unit (component technology) and the French word Tous (integrated), reflecting a corporate value that embodies an integrated entity based on innovative technological capabilities.
Hyundai Mobis will hold 100% ownership of the newly established subsidiaries. Both Hyundai Mobis and the integrated subsidiaries expect synergy effects through maximizing each company’s specialization and efficiency.
Hyundai Mobis aims to focus on developing key technologies for future mobility, securing new technologies, and promoting new business initiatives, while the integrated subsidiaries plan to ensure competitiveness centered around production and quality management capabilities.
This is to establish a flexible and agile management environment to proactively respond to the rapidly changing future mobility paradigm.
Mid-to-long-term plans for the integrated subsidiaries include securing independent business areas, such as contract manufacturing for global clients.
To achieve this, plans are in place to enhance manufacturing expertise, establish in-house equipment, and secure independent sales capabilities to compete in the global market.
Currently, the total number of employees at the two integrated subsidiaries is over 7,500, with plans to further strengthen the recruitment of specialized personnel through in-house hiring in the future.
The new integrated subsidiaries will significantly improve the treatment and welfare of newly recruited employees, given their status as affiliates of the Hyundai Motor Group.
Support for purchasing Hyundai and Kia vehicles and childcare education support for employees’ children are notable examples.
Last month, Hyundai Mobis publicly disclosed its board of directors’ decision regarding a total cash investment of 70 billion KRW in the specialized integrated subsidiaries, and subsequently announced the confirmed names of the newly established integrated subsidiaries, demonstrating transparency in communicating crucial matters during the establishment process to market stakeholders.
Lee Sang-jin daedusj@autodiary.kr