– Future growth strategy and vision announced at <2021 Strategies and New Technologies Conference> at R&D Headquarters in Core.
– Implementation of the “XYZ Transformation” strategy and development of new activities, including robotaxi and UAM.
– Presentation of new mobility concepts, M.Vision X and M.Vision POP, which connect people and cities securely.
SOUL, South Core, March 31, 2021 / PRNewswire / – Hyundai Mobis will innovate its corporate structure to ensure its future technological competitiveness and long-term growth drivers. The company will move from designing automotive component hardware to software and transform its business model into a platform-driven company.
In line with the future strategy of the Hyundai Motor group in terms of electric vehicles, autonomous driving and urban air mobility (UAM), Hyundai Mobis will strengthen its technologies as a leading subsidiary.
On March 31, Hyundai Mobis invited local and foreign media to the
In the rapidly evolving automotive industry towards an ecosystem of mobility platforms, the role of automotive suppliers must also change, said Jung Soo-kyung, Head of Planning Division (Executive Vice President), who presented at the conference. We will grow our business as a leading company in platform-based systems that have integrated hardware-to-software competitiveness.
When At the conference, Hyundai Mobis also presented new mobility solutions, the shared urban mobility cars, M.Vision X and M.Vision POP, and demonstrated new technologies.
- Innovate the business model through the
… Innovate actively
The medium and long-term growth strategy (Transformation XYZ), presented by Hyundai Mobis, will be widely implemented in three areas.
First of all, “Transformation X” is meant to continuously innovate as a global company to ensure its future growth. Hyundai Mobis will use its core technological expertise in autonomous driving, electrification and connectivity to expand its business to global automakers. To achieve this, the company will continue to conduct open innovation activities such as strategic investment in global companies with promising technologies.
Currently, Hyundai Mobis is intensifying its collaborations with various leading partners. As an illustration, strategic investments have been made in Velodyne, a world number 1 in lidar, as well as collaborative work for the mass production of a level 3 lidar system. Hyundai Mobis also plans to cooperate with Envisics , a British AR-HUD specialist.
Second, “Transformation Y” consists of innovating your business model using the basic technological skills of the company. Hyundai Mobis will expand its field of action in the market for new mobility services in order to meet customer needs. Currently, it is known that Hyundai Mobis is developing a level 4 autonomous robotaxi through a technical alliance with Yandex, a Russian IT company. This initiative gives shape to its business model.
When it comes to business model innovation, Hyundai Mobis plans to provide dedicated platforms to global automakers or to Special Purpose Built Vehicle (PBV) companies. To build the value chain of a new mobility service, the company is also trying to secure smart factories using AI and big data.
Thirdly, Transformation Z aims to find new long-term growth activities and is linked to the conduct of new activities based on innovative technologies. Hyundai Mobis will have long-term growth engines in areas other than the existing automotive business, for a period of at least 10 years.
Currently, we are seeking business cooperation in the field of AMU with the Hyundai Motor Group and are studying the areas that Hyundai Mobis can enter, as well as other business models, said Mr. Jung Soo-kyung. It is expected that it will be possible to utilize Hyundai Mobis’ commercial expertise in electric propulsion systems and avionics as part of UAM’s operations.
It appears that the recent addition of the manufacture and sale of air mobility components and robot components to Hyundai Mobis’ business objectives in its articles of association is part of this initiative.
To strengthen its R&D skills, a key driver of its future growth strategies, Hyundai Mobis has decided to continuously increase its direct investment in R&D. These investments will grow from KRW 1,000 billion (approximately $ 0.8 billion) to KRW 1,700 billion ($ 15 billion) by 2025. More specifically, to ensure independent technology that will help the company gain the upper hand. Global market, Hyundai Mobis plans to increase investments in previous R&D technologies. Thus, the company plans to shift R&D costs related to earlier technologies, which represent around 14% of total R&D costs, 30% in 2025.
HyundaiMobis is the 7elargest automotive supplier. Founded in 1977 and based on Soul, in Core, the company HyundaiMobis will become a technological partner on the hard for vehicles and people.
HyundaiMobis excels in sensors, sensor fusion in controllers and software design capabilities in safety control. Its products also include various electrification components, brakes, suspensions, steering, airbags, lights and automotive electronics.
Mobis currently has more than 30,000employees and manufactures in more than 30 regions in 10countries. In addition to its research and development headquarters in Core, Mobis has 4 technology centers in Germany, China, India and the United States.
Jihyun Han, jihyun.han @ mobis.co.kr
Choon Kee Hwang, ckhwang @ mobis.co.kr
Photo – https://mma.prnewswire.com/media/1478266/Transformation_Strategy.jpg
These press releases may also interest you
Communiqu sent on March 31, 2021 04:43 and distributed by: