Auto parts-maker targets 8% annual growth by 2027, vows to diversify clientele beyond Hyundai, Kia

Hyundai Mobis CEO Lee Gyu-suk unveils the company's new corporate vision at a research center in Yongin, Gyeonggi Province, Wednesday.  (Hyundai Mobis)
Hyundai Mobis CEO Lee Gyu-suk unveils the company's new corporate vision at a research center in Yongin, Gyeonggi Province, Wednesday. (Hyundai Mobis)

Korea’s leading manufacturer of auto parts, Hyundai Mobis has unveiled its new corporate vision as “Lead the shift in mobility, move the world beyond possibilities," renewing its commitment to pioneering futuristic mobility innovations.

The slogan was unveiled Wednesday at the company's technology research center in Yongin, Gyeonggi Province, by Hyundai Mobis CEO Lee Gyu-suk. Employees worldwide attended the event both in person and via livestreaming.

During the event, Lee stressed that the new slogan reflects Hyundai Mobis’ goal of becoming a maker of paradigms in the global mobility industry, expanding its market presence while driving technological innovations in mobility solutions.

"Establishing this vision is the first step toward shaping the company’s future," Lee stated. "Achieving this vision requires the active participation of the entire company — not just a single organization or department. Every team and individual must collaborate and drive change together."

Hyundai Mobis engaged 700 employees across its business units to explore shared perspectives on the company’s future direction, laying the foundation for the slogan’s creation.

With this new vision, Hyundai Mobis is intensifying efforts to achieve its mid- and long-term goals, including both annual sales growth exceeding 8 percent by 2027 and becoming one of the world's top three auto parts manufacturers by 2033.

To reduce reliance on Hyundai Motor and Kia, sibling companies under Hyundai Motor Group, Hyundai Mobis has been expanding its overseas market presence.

At its first-ever investors' day in November, the world's sixth-largest auto parts-maker pledged to increase its non-Hyundai clients' share of total sales to 40 percent by 2033.

Alongside its new slogan, Hyundai Mobis also outlined plans to enhance its product and service offerings in software-defined vehicles, human-machine interfaces and safety parts, to strengthen its lineup of high-value-added products and to position electric vehicle components as a core business for future growth.

As part of its EV-focused strategy, Hyundai Mobis transferred its long-held hydrogen fuel cell business to Hyundai Motor last year.

Additionally, Hyundai Mobis emphasized its flexible approach in expanding its role as a comprehensive mobility platform provider, delivering customized solutions across various sectors, including EVs, autonomous driving and in-vehicle communication.

By embracing mobility innovation and strategic expansion, Hyundai Mobis aims to secure its position as a global leader in the future of mobility.

By Lim Jae-seong (forestjs@heraldcorp.com)