Hyundai Mobis Announces Its Mid- to Long-Term Transformation Strategy, Accelerating Transition to Becoming a Software-Centered Platform Leader
March 31, 2021 at 03:23 am EDT
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Hyundai Mobis will innovate its business structure to secure future technological competitiveness and long-term growth engines. It will shift its focus from automotive component hardware to software and transform its business model into a platform-oriented company. In accordance with the Hyundai Motor Group's future strategy in electric vehicles, autonomous driving and Urban Air Mobility (UAM), Hyundai Mobis is to reinforce its technologies as a leading affiliate. Currently, Hyundai Mobis is expanding its collaborations with various leading partners. As representative examples, strategic investments have been made in Velodyne, a global No. 1 lidar company, together with collaborative work for mass-production of a level 3 lidar system. Hyundai Mobis is also aiming to cooperate with Envisics, a UK-based AR-HUD specialist. Secondly, 'Transformation Y' is to innovate its business model with the company's core technological competencies. Hyundai Mobis will expand its business scope in the new mobility service market to meet customer needs. Currently, Hyundai Mobis is known to be developing a level-4 autonomous robotaxi through a technical alliance with Yandex, a Russian IT company, giving shape to its business model. For business model innovation, Hyundai Mobis is planning to provide dedicated platforms to global automakers or Purpose Built Vehicle (PBV) companies. To build the value chain of a new mobility service, the company is also trying to secure smart factory infrastructure utilizing AI and big data. Thirdly, Transformation Z is set to find long-term new growth businesses and is related to conducting new businesses based on innovative technologies. Hyundai Mobis will secure long-term growth engines in areas other than the existing automotive business in preparation for at least 10 years into the future. It seems that Hyundai Mobis recently adding the manufacturing and sale of aerial mobility components and robot components to its business purposes in its Articles of Incorporation was part of this initiative.
Hyundai Mobis Co Ltd is a Korea-based company principally engaged in the manufacture of automobile components. The Company operates its business through two segments. The Module and Part Manufacture Business segment is mainly engaged in the manufacture of automobile modules including chassis, cockpit and front end modules (FEMs). And the segment also involves in the production of automobile parts including electronic stability control (ESC) systems, air suspension systems, exterior lightings, braking and steering parts and others. The After Sales (A/S) Part Business segment is mainly engaged in manufacture of automobile parts which are used for automobileâs repair and maintenance. The Company distributes its products in domestic and overseas markets.