Hyundai Mobis Overseas Orders Reach 6 Trillion Won... Record High

$4.65 Billion... $5.36 Billion Target for This Year

[Asia Economy Reporter Oh Gyumin] Hyundai Mobis announced on the 31st that it achieved an order performance of $4.65 billion (approximately 5.7 trillion KRW) last year from overseas automobile manufacturers.

This figure is nearly double compared to the previous year. The company explained that this is the largest achievement since it began overseas orders for core automotive parts in the early 2000s.

This performance was achieved from overseas automobile manufacturers excluding Hyundai Motor Company and Kia. They secured large-scale orders for high value-added core parts including ADAS (Advanced Driver Assistance Systems), and the proportion of orders for electrification parts was also high. While orders were mainly centered in North America, the scope expanded as major European brands also placed orders.

[Image provided by Hyundai Mobis]

Additionally, stable expansion of production bases through proactive investment and the Key Account Management (KAM) teams dedicated to core customers at each base led to the increase in orders. Currently, Hyundai Mobis operates 44 global production bases, and local sales organizations conduct marketing directly.

Hyundai Mobis's global orders have been increasing for several years. They recorded $1.75 billion in 2020, $2.5 billion in 2021, and $4.65 billion last year. This year, they have set a target of $5.36 billion in orders.

Axel Mashka, Vice President and Head of Sales Division at Hyundai Mobis, stated, “Love calls continue from global automakers through overseas awards and new technology development,” and added, “Based on trust relationships with existing as well as new customers, a growth rate of about 15% is expected this year as well.”