Hyundai Mobis to promote EV module in U.S. auto show

Hyundai Mobis Co., South Korea’s leading auto parts maker, said Monday it will promote its high-end auto parts at an U.S. auto show this month to strengthen its presence in the world’s most important automobile market.

Hyundai Mobis aims to explore new opportunities to sell its electric complete chassis platform module (eCCPM) for EVs and other high-end auto components to local carmakers at the North American International Auto Show, the company said in a statement.

It will also focus on selling next-generation technologies involving EVs and autonomous vehicles, the statement said.

The show, formerly known as the Detroit Motor Show, was suspended in the past two years due to the COVID-19 pandemic. It is scheduled to reopen from Sept. 14-25.

In the January-June period, the company received US$1.7 billion worth of parts orders in the United States, achieving 45 percent of its global order target of $3.75 billion for the year.

Its U.S. parts orders have continued to rise from $660 million in 2020 to $1.4 billion in 2021 and $1.7 billion in the first half of 2022, the company said.

Hyundai Mobis is a core affiliate of Hyundai Motor Group, which also has Hyundai Motor Co. and Kia Corp. under its wing. Hyundai Mobis owns a 21.43 percent stake in Hyundai Motor.

In the first six months, the company obtained $2.57 billion worth of parts orders from global carmakers, except for its captive buyers Hyundai Motor and Kia.

Hyundai Mobis earns about 90 percent of its sales from Hyundai Motor and Kia, with 10 percent coming from other carmakers.