Hyundai Mobis has announced that it won contracts for core automotive parts worth US$1.7bn (about KRW1,900bn) from overseas automakers in 2018. Only high-tech core parts, excluding modular products of large assembly units were aggregated. It says the figure increased by more than 40% over the previous year, resulting in the largest order volume ever. The orders that Hyundai Mobis received in 2015 amounted to $500m, $1bn in 2016 and $1.2bn in 2017 from overseas markets.
The largest overseas orders it received last year were led by ‘its core future-car technologies’ and ‘orders from overseas electric vehicle companies.’
Future car technologies fuelled the expansion of overseas orders
Last year, Hyundai Mobis received a large order volume from overseas markets for its advanced parts possessing outstanding future car technological competitiveness.
Hyundai Mobis signed a contract for the supply of the ‘next-generation lateral radar (79GHz)’ to a North American company. HM said that this radar tech produces a highly advanced component that extends the sensing coverage of autonomous vehicles.
Its high-tech future technologies such as the ‘steering wheel mounted display’ and the ‘automotive smart lamp’ also won contracts from overseas companies. These products help facilitate the innovative communication between automobiles and users. Currently, Hyundai Mobis is the first in the world to start mass produce these products to fill the orders.
The ‘steering wheel mounted display’ is a future-oriented technology that helps communication between the driver and the vehicle by applying the information display and the tablet for controlling the vehicle to the steering wheel. The ‘smart lamp’ is a technology for expressing light patterns from a certain area of the vehicle. It provides a function that not only informs about the outside of the car, such as the electric vehicle’s charge state, but also enhances the design sensibility.
Core parts like the ‘electronic power steering system’ and the ‘airbag controller’ were also included in the product portfolios which were ordered by overseas companies last year. As the motor output of Hyundai Mobis’ ‘electronic power steering system’ is more than 40% greater than products of overseas competitors, it can maintain stable steering performance even in extreme handling. The ‘airbag controller’ is a product for which Hyundai Mobis became the first in the world to obtain the functional safety certification for electronic parts (ISO 26262).
Orders from overseas electric vehicle companies in the US, Europe and China, etc greatly increased
Last year, Hyundai Mobis says it received a ‘great deal of attention from overseas electric vehicle companies in North America, Europe and China, etc resulting in the greatest ever order volume received from overseas markets’. The company received orders for advanced parts, worth close to $1bn, 60% of its total overseas orders, from electric vehicle companies. It says its orders increased a massive 60 times just three years after the company first received orders worth $15m from overseas electric vehicle companies in 2016.
Hyundai Mobis is planning to continuously increase orders for high-value-added electronic parts this year as well. The percentage of overseas contracts of Hyundai Mobis, largely composed of electronic parts, was 17% in 2016 and 30% in 2017. Last year, it exceeded 50%, signalling that its overseas orders are sharply on the rise. The major ordered items are quickly diversifying to include connectivity products, such as advanced driver assistance systems and infotainment systems, including radars, etc.