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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] Hyundai Mobis, the automotive parts affiliate of Hyundai Motor Group, announced plans to expand its supply chain beyond the group’s companies.
At the 2024 Investor Day held at a hotel in Yeouido, Seoul, on November 19, Hyundai Mobis CEO Lee Gyu-seok and other executives presented the company’s future strategies. This included plans for improving profitability, enhancing shareholder returns, and diversifying its business. It marked the first time Hyundai Mobis’ top executives publicly shared their mid- to long-term growth strategies and corporate value enhancement goals.
The cornerstone of Hyundai Mobis’ growth strategy is customer diversification. Currently, only about 10% of its parts are supplied to companies outside the Hyundai Motor Group. The company aims to increase this figure to 40% by 2033.
While maintaining its role as a supplier to Hyundai Motor and Kia, Hyundai Mobis intends to secure additional clients to drive revenue growth. The company has set a mid-term goal of achieving an annual sales growth rate of 8% and an operating profit margin of 5-6% by 2027.
Hyundai Mobis plans to target the market with extended-range electric vehicles (EREVs) and electric vehicle (EV) drivetrains as its key products. Notably, it aims to develop a 120 kW EV drivetrain by next year, targeting the European and Indian markets. Furthermore, the company intends to strengthen strategic alliances with global firms in infotainment systems, chassis safety systems, and automotive semiconductors.
This shift is seen as a significant move to enhance its competitiveness and reduce reliance on Hyundai Motor Group's internal demand.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
