Hyundai Mobis Establishes 'Uiwang Electrification Research Center'

Source: 12/5/2023, Location: Asia

Hyundai Mobis (KRX 012330) announced on 5th that Hyundai Mobis has established the 'Electrification Research Center' within the Hyundai Motor Group's Uiwang R&D Center in Uiwang, Gyeonggi Province and held an inauguration ceremony. At the ceremony, the newly appointed President of Hyundai Mobis, Lee Gyu Suk, emphasized the company's future growth direction centered on electrification.

The newly established Hyundai Mobis Electrification Research Center serves as a comprehensive research center for developing core electrification components, including research and development, testing, performance evaluation, and quality analysis. Hyundai Mobis established this center to consolidate its R&D capabilities in electrification, previously scattered across various locations, including the Mabuk R&D Center in Yongin, Uiwang, and Seosan, to improve efficiency and proactively respond to the expanding global electrification market.

With the establishment of this specialized research institute, Hyundai Mobis now operates dual research bases in Korea; Mabuk R&D Center and Uiwang R&D Center. The Mabuk R&D Center leads the development of core auto components such as autonomous driving, connectivity, and chassis safety, while the Uiwang R&D Center specializes in the development, testing, and performance evaluation of electrification components. Hyundai Mobis also independently operates the Seosan Proving Ground for applying these R&D achievements to actual vehicles, assessing their performance and reliability.

At the inauguration, President Lee Gyu Suk, emphasized that "the Electrification Research Center is a strategic hub for next-generation electrification technology, equipped with an optimal research environment." He stressed that "focusing on specialized research personnel, we will utilize this hub as an innovation base in the field of electrification."

Leaping as a Leading Company in Electrification-Centric Mobility Technology… Continuous Expansion of Electrification Workforce

Hyundai Mobis announced its future strategy at this year's CES to leap forward as a 'Mobility Platform Provider' with a software-centric integrated solution. Electrification is a key business area that concretizes this strategy, and the opening of the new Electrification Research Center is part of this strategic plan.

Recently, Hyundai Mobis successfully secured orders worth several trillion won for core electrification components from Volkswagen, a major global automaker in Europe. This success is a testament to the worldwide market's recognition of the reliable mass production quality of Hyundai Mobis's electrification products. Establishing a new strategic hub for next-generation electrification technology is significant, especially considering anticipated additional orders for electrification components from global automakers. This move aims to maximize mass production quality by integrating research and development, quality, and production technologies, thereby enhancing organizational and workforce efficiency.

With the establishment of the Electrification Research Center, Hyundai Mobis plans to expand its pool of specialized research personnel continuously. The Electrification Research Center is poised to become a key research center in global electrification technology development, harnessing the synergy of these talented individuals in an optimal research environment.

v Hyundai Mobis operates nine electrification production bases worldwide (six domestic, three overseas) and is establishing six new bases in Korea, North America, and Indonesia. The company recently secured $940 million in investment funds from seven international financial institutions to develop a new electrification base in North America.

Hyundai Mobis is set to proactively respond to expanding the global electrification market, grounded in its core portfolio of electrification components, including Battery System Assembly (BSA), Power Electronics System (PE System - Drive System), and Power Conversion System. Hyundai Mobis' cumulative electrification sales until the third quarter of this year have surpassed 9 trillion and 794.1 billion won, already exceeding last year's total electrification sales. Hyundai Mobis plans to continuously strengthen its competitive edge in the electrification sector by ensuring stable operation and expansion of local production bases and securing next-generation technologies, actively pursuing global orders.

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