Hyundai Mobis Riding the Electrification Wave, Overseas Orders Surpass 12 Trillion Won Last Year

Securing Core Parts Orders Focused on European Complete Vehicles
Exceeding Initial Target by 72%

Hyundai Mobis increased its orders for electrification parts, achieving overseas orders worth 12 trillion won last year. It was the first time that overseas orders exceeded 10 trillion won. This year, Hyundai Mobis plans to aggressively increase orders focusing on core parts for future mobility.

On the 29th, Hyundai Mobis announced that its overseas orders last year amounted to $9.22 billion (approximately 12.3 trillion won). This exceeded the initial target of $5.36 billion (approximately 7.2 trillion won) by 72%, marking the largest order achievement in history.

The record-high order performance last year was largely due to securing core electrification parts mainly from European automakers. Hyundai Mobis secured a battery system assembly (BSA) supply contract from a German automaker last year. This BSA will be installed on the next-generation electric vehicle dedicated platform of the brand. Hyundai Mobis plans to establish a new production base near its factory in Europe to supply parts stably.

Hyundai Mobis has also been making proactive research and development (R&D) investments to increase overseas orders. It is focusing on developing core future mobility fields such as electrification, autonomous driving, and connectivity. Last year, Hyundai Mobis increased its R&D investment by about 20% compared to the previous year, reaching 1.64 trillion won.

Hyundai Mobis Annual Overseas Order Amount (Unit: USD) [Source: Hyundai Mobis]
*2024 is the target (E)

Hyundai Mobis has set an aggressive overseas order target of $9.34 billion for this year. Compared to last year’s target, this is an increase of more than 70%. This year, it will focus on securing new clients mainly for strategic parts such as electrification, electronic components, lamps, and chassis.

Hyundai Mobis diversified its order portfolio with various new technology products such as augmented reality head-up displays (AR-HUD), advanced driver assistance systems (ADAS), independent rear-wheel steering systems (RWS), and rollable displays.

At this year’s CES, Hyundai Mobis also engaged in sales activities by meeting various global customers. It created a dedicated space for customers and showcased 20 types of new mobility technologies that can be applied immediately to mass-produced vehicles, including transparent displays and 22 kW integrated charging control modules (ICCU).