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SEOUL, South Korea, Sept. 5, 2023 /PRNewswire/ -- At IAA Mobility 2023 Hyundai Mobis (KRX: 012330) has announced its European market expansion strategy 'MOBIS MOBILITY MOVE 2.0' which showcased its commitment to electric mobility. Hyundai Mobis is confident it can rapidly expand in Europe where electric vehicle technology is already making an impact, as highlighted by the recent contract win with Volkswagen, one of the world's leading automobile manufacturers, for its large-scale battery system. The company's approach for the European market is focused around its three core solutions, involving electric vehicle core components such as battery systems and power electronics (PE systems).
Axel Maschka, Executive Vice President and Head of Business Division of Hyundai Mobis announcing Mobis’ ‘MOBIS MOBILITY MOVE 2.0’ strategy at IAA Mobility 2023 Press Conference.
"The Mobis core solution will play a significant role in the European automotive market as it shifts to electric," explained Axel Maschka, Executive Vice President and Head of Business Division, Hyundai Mobis. "We expect orders from the region will more than double compared to last year. By 2030 we are aiming for an annual sales growth of over 30% in the European market."
Expansion through innovative mobility solutions
At the exhibition, Hyundai Mobis is highlighting the market leadership of its electrification solutions including the Battery System (BSA) and Power Electronics System (PE System) installed in the Kia EV9, as well as its next-generation electric platform, e-CCPM (Electric Complete Chassis Platform Module). During the press conference, Hyundai Mobis announced it is developing an 800V high-voltage battery system and a third-generation PE system suitable for high-performance electrical vehicles.
Hyundai Mobis plans to target the European mobility market using 'X(Everything)-By Wire' and '5G-based V2X (Vehicle to Everything) Integrated Control' technologies. X-By-Wire transforms essential functions like steering and brakes from mechanical to electronic controls, in line with demand for electrification. This next-generation chassis technology enhances freedom in vehicle architecture, design, and spatial capabilities, and Hyundai Mobis has the expertise to build the full range of By-Wire solutions including Electronic Steering (Steer-By-Wire), Electronic Braking (Brake-By-Wire), and Independent Rear Wheel Steering (Rear Wheel Steering).
Hyundai Mobis has started its development of 5G-based V2X Integrated Control technology, which is considered a core technology for Level 4 autonomous driving. This technology enables vehicles to exchange large amounts of data with exterior environments (other vehicles, intelligent transportation systems) without delay. Having already developed a secure 5G communication module, Hyundai Mobis is planning to introduce a new telematics product integrating V2X technology to the market soon.
Hyundai Mobis' investment in state-of-the-art mobility solutions is driven by the willingness of automotive manufacturers in Europe to embrace innovation. The company's reputation for highly differentiated technologies is key to expanding orders in a market where premium manufacturers have stringent technology standards. By aligning with these requirements, Hyundai Mobis is confident it can achieve a target for orders in the European region of $1.29 billion, which is two times higher than last year. In the first half of this year, Hyundai Mobis has already secured orders for automotive electric parts, such as its advanced assistance system (ADAS) camera sensors from major European brands.
On its stand (Hall B2) Hyundai Mobis has a 'Private Zone' for international clients to introduce twenty of its new ready-to-mass-produce technologies such as the next-generation integrated cockpit system (M.VICS 4.0), Hologram AR-HUD, and rollable display. It has been reported that top executives from major European automakers such as Volkswagen, BMW, and Daimler have visited this location.
About Hyundai Mobis
Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India. For more information, please visit the website at http://www.mobis.co.kr
Media Contact
Jihyun Han: jihyun.han@mobis.co.kr
Myong Sun Song: sms@mobis.co.kr
