"Hyundai Mobis Targets US Market, First Participation in North American Auto Show for Electric and Autonomous Vehicles"

Hyundai Mobis exhibition booth at CES 2022 held in January this year

[Asia Economy Reporter Choi Dae-yeol] Hyundai Mobis announced on the 5th that it will participate in the 2022 North American International Auto Show, which opens on the 14th.

Widely known as the Detroit Motor Show, this exhibition is considered one of the world's top three motor shows. The event, which had been suspended due to COVID-19, will be held on-site for the first time in three years. Detroit is regarded as the center of the North American automotive industry and is home to the headquarters of major American automakers such as General Motors (GM) and Ford.

This is Hyundai Mobis's first time participating in this event. Following its participation in last year's Munich Motor Show (IAA) in Germany, the company plans to continue aggressive sales activities in overseas markets by attending the North American Auto Show this time.

The exhibition period is from the 14th to the 25th. Hyundai Mobis will set up an exclusive exhibition space for its clients during the first three days of the event to showcase about 30 new technologies in the field of future mobility. Axel Maschka, Vice President of Hyundai Mobis's Global OE Sales Division, said, "In addition to the significance of the auto show’s grand revival in Detroit, a symbol of the U.S. automotive industry, this is aimed at discovering new order opportunities in the North American market, a battleground for future vehicles such as electric and autonomous cars."

Hyundai Mobis North American Market Core Parts Order Performance

Considering the recent intense competition in electric vehicle development in North America, Hyundai Mobis decided to strategically emphasize electrification systems. A representative example is the integrated chassis platform for electric vehicles. This platform is optimized for electric vehicles and combines braking, steering, suspension, drive, and battery systems within an aluminum frame whose size can be freely adjusted. The platform's form can be modified according to vehicle size, making it suitable for purpose-built mobility (PBV) based on electric vehicles.

The lighting grille exhibited this time is a technology that can utilize the entire front grille of an electric vehicle as a lighting device or a communication medium between the vehicle and pedestrians. In addition, Hyundai Mobis plans to showcase new technologies ready for mass production, such as the next-generation integrated cockpit, holographic augmented reality (AR) head-up display, and swivel display.

The focus on securing orders in North America is due to the recent market growth and increasing demand centered on high value-added products. Hyundai Mobis secured orders worth $1.7 billion in the North American market alone by the first half of this year. This accounts for about 45% of the company's total overseas order target of $3.75 billion for the year. Previously, it was $660 million in 2020 and $1.4 billion last year, and this year, the first half has already surpassed last year's full-year performance.

On the first day of the event, the company plans to hold a media conference for local press to announce its market penetration strategy. The company stated, "New markets are opening centered on electrification and autonomous driving systems, and accordingly, business opportunities are expected to expand further, especially among technology companies."

This content was produced with the assistance of AI translation services.