This file photo offered by Hyundai Mobis shows the in-vehicle infotainment system named Mobis Infotainment System for next-generation vehicles.
SEOUL, April 19 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s leading auto parts maker, said Wednesday it is targeting to win US$1 billion worth of orders in China this year, with the focus on high-end components for electric vehicles.
Hyundai Mobis achieved $900 million worth of auto parts orders in the world’s biggest automobile market last year.
The company promoted 24 advanced technologies, including the electric complete chassis platform module (e-CCPM), at the 2023 Shanghai International Automobile Industry Exhibition scheduled from April 18-27.
The e-CCPM is an integrated platform that will serve as the basis for future purpose-built vehicles. It integrates the chassis module and the EV battery in the frame.
“We will create new customer value based on our competitiveness with world-class quality, as well as stable local sales and production organizations, in the fast-changing EV market in China,” Hyundai Mobis Executive Vice President Axel Maschka said in the statement.
Hyundai Mobis currently operates 44 production facilities and five research and development centers globally. In China, it has seven plants and one R&D center.
Hyundai Mobis announced in February it will invest up to 10 trillion won ($7.9 billion) in future mobility solutions in the next three years.
The company said it will inject 5 to 6 trillion won in electrification and core components, and 3 to 4 trillion won in autonomous driving, the advanced driver assistance system and software development.
It also plans to put aside 5 trillion won in cash to respond to growing market uncertainties amid a global economic slowdown.
Hyundai Mobis is a core affiliate of Hyundai Motor Group, which also has Hyundai Motor Co. and Kia Corp. under its wing.
On Wednesday, shares in Hyundai Mobis rose 0.9 percent to 227,000 won, outperforming the broader KOSPI’s 0.2 percent gain.
(Yonhap)
