This Company Invests 1 Trillion Won in R&D for 3 Consecutive Years

Hyundai Mobis Publishes Sustainability Report 2023

Hyundai Mobis is accelerating its transformation into a software-centric mobility company by investing over 1 trillion won in research and development for three consecutive years.

The company announced on the 8th that it has published the "Sustainability Report 2023," which contains these details. Since 2010, Hyundai Mobis has been publishing annual reports to share its sustainability management performance in various fields such as economy, society, and environment with key stakeholders.

Hyundai Mobis is striving to secure core competencies in semiconductors and software. Accordingly, it is focusing on expanding research and development. After investing 1.0122 trillion won in R&D in 2020, the company has increased its R&D investment for three consecutive years, reaching 1.3709 trillion won last year.

Hyundai Mobis published the 'Sustainability Report 2023,' detailing its mid- to long-term eco-friendly management strategies and initiatives on ESG (Environmental, Social, and Governance) management.
[Photo by Hyundai Mobis]

Consistent investment has led to securing intellectual property rights and winning orders for core components. From 2020 to last year, the number of new patent applications and holdings increased by 41% and 61%, respectively. Notably, among the new patent applications last year, patents related to future technologies such as autonomous driving (806 cases) and eco-friendly technologies such as electrification and fuel cells (210 cases) accounted for more than 30%.

The scale of orders for core components also increased from $1.758 billion (approximately 2.2917 trillion won) in 2020 to $2.517 billion in 2021 and $4.652 billion last year. This year, the company has set a target of more than $5.3 billion, an increase of over 10% compared to the previous year.

The open innovation portfolio (a strategy where companies share technology with other companies or research institutions to create new products) is also steadily expanding. Last year, Hyundai Mobis signed a strategic partnership with the next-generation LiDAR technology development startup, LightIC Technologies. They are working on implementing a semiconductor-based electronic LiDAR system to replace mechanical LiDAR. Innovation centers are operated in Silicon Valley, North America, and Shenzhen, China, actively communicating with local startups.

This report can be viewed in the sustainability management section on the Hyundai Mobis website.