Hyundai Mobis said on the 2nd that last year it won orders totaling $9.17 billion (about 13.2 trillion won) from overseas automakers excluding Hyundai Motor and Kia. The figure is 23% above the initially planned target of $7.45 billion.
Hyundai Mobis said it achieved these orders from global customers through: ▲ large new orders for electrification parts ▲ expanded supply of high value-added electronic components ▲ targeting emerging markets such as China and India.
A Hyundai Mobis official said, "The result is meaningful because global automakers are changing new model launch plans one after another due to the electric-vehicle chasm," and noted, "As a result of focusing research and development capabilities for years to secure leading technological competitiveness, orders from overseas customers are gaining momentum."
Hyundai Mobis last year won contracts from two major global customers in North America and Europe to supply battery system assemblies (BSA), a core electrification component, and chassis modules, respectively. Although specific customer names and detailed amounts were not disclosed due to security and other reasons, these are known to account for a significant portion of last year's orders. Orders for ultra-large components such as BSAs and chassis modules entail accompanying investments to build production facilities and logistics systems, which can lead to long-term partnerships.
Hyundai Mobis also recorded order wins in electronic components, a high value-added business area. A representative case is an order for advanced human-machine interface (HMI) products from another major North American customer. HMI is a display device that provides various driving information through communication between people and machines such as automobiles.
It also decided to additionally supply a sound system to a sedan-focused brand. Overseas customers had shown a clear preference for their domestic brands' sound systems, but Hyundai Mobis overcame that with technology and succeeded in winning the order. In addition, diversifying suppliers of core parts such as braking, steering, and safety components for emerging markets including China and India is also a result.
Hyundai Mobis this year presented a global order target of $11.84 billion (about 17.1 trillion won), about 30% higher than last year, based on differentiated sales strategies by key region and close cooperation with key customers. The figure reflects securing core parts orders on a scale similar to the previous year while also considering large-scale module orders.
Cho Jae-mok, executive vice president in charge of global sales at Hyundai Mobis, said, "Although the trend of an uncertain external environment is expected to continue this year, we will accelerate order activities to surpass last year's performance by leveraging competitiveness in core parts such as electrification and electronics."