Hyundai Wia is sharing its future vision with over 120 partner companies through a video conference system at the 'Partnership Day' held on the 27th.Photo by Hyundai Wia
[Asia Economy Reporter Ki-min Lee] Hyundai Wia announced on the 28th that it will expand its co-growth activities with partner companies and achieve sales of 12 trillion won by 2030.
Hyundai Wia held an online 'Partner Company Partnership Day' event with 120 major partner companies the day before to share this management goal.
Hyundai Wia shared its future vision based on eco-friendly mobility parts and smart manufacturing and logistics solutions. Hyundai Wia plans to first focus its capabilities on developing an integrated 'thermal management system module' for eco-friendly vehicles to accelerate its business transition to future mobility parts. It has already developed the 'coolant distribution and supply integrated module,' part of the thermal management system module, for the first time in Korea and will begin mass production in 2023. This product is expected to be installed on Hyundai Motor Company's electric vehicle-exclusive platform, E-GMP.
It will also enter the air compressor business used in fuel cell electric vehicles (FCEVs). The air compressor is an essential part of hydrogen electric vehicles that stably supplies the air needed to generate electricity from hydrogen, with mass production targeted for 2023.
In addition, Hyundai Wia will commercialize the 'RnA smart manufacturing and logistics integrated solution' based on robots and autonomous driving. This solution replaces the existing conveyor belt method with a 'cell' method, enabling flexible and rapid production of various products. It plans to apply this at Hyundai Motor Group's Singapore Global Innovation Centers (HMGICs).
To this end, Hyundai Wia will develop collaborative robot products specialized for the automotive industry using its own technology, while also planning to develop autonomous mobile robots (AMRs) equipped with autonomous driving functions and unmanned parking robot products through open innovation with global specialized companies.
Hyundai Wia plans to expand comprehensive support so that partner companies can proactively prepare for these new businesses. It will invest 4 trillion won to secure future competitiveness and help partner company employees acquire software-related skills. Additionally, it will reorganize systems such as the performance-sharing system to enable joint growth as 'value chain partners.'
Furthermore, it will support the liquidity of small and medium-sized partner companies. Since the spread of COVID-19 last year, Hyundai Wia has been paying delivery fees in cash and plans to continue this practice this year. Along with this, it plans to expand effective support by directly helping partner companies facing management difficulties through a co-growth fund totaling 68 billion won.
A Hyundai Wia official said, "Growing together with partner companies in the rapidly changing future mobility market is the most important survival method," adding, "We will do our best to build an ecosystem for eco-friendly parts and manufacturing markets together."
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