Hyundai Wia President Kim Kyung-bae.

Will Hyundai Wia Merge Hyundai Dymos, Hyundai Powertech, Hyundai Mobis or another automotive parts subsidiary of Hyundai Motor Group to secure mid- and long-term growth?

Some experts have raised the possibility of an M&A to help Hyundai Wia secure mid- and long-term growth engines, as Hyundai Wia’s recently unveiled vision indicates.

Hyundai Wia employees held a rally on Nov. 1to shore up their determination to achieve the new vision, which calls for the accelerating of eco-friendly automotive parts production. The new vision stipulates Hyundai Wia’s venture into new businesses such as smart factory and automation.

Hyundai Wia’s decision to venture into new businesses such as eco-friendly car parts is closely related to the broad trend of the global automobile market to shift from internal combustion engine cars to eco-friendly cars such as EVs.

Hyundai Wia is engaged in new businesses such as electronic coupling, a core part of a new technology-applied, four-wheel system, while its mainstay businesses include the production and selling of conventional internal combustion engine car parts such as modules, engines and transmissions.

Hyundai Wia executives and staff members raise their hand to show their determination at a rally to realize the company’s vision “The Next Solution” at Hyundai Wia headquarters in Changwon, Gyeongsangnam-do, on Nov. 1. (Photos: Hyundai Wia)

‘Wia, The Next Solution’

At the Hyundia Wia Headquarters in Changwon, Gyeongsangnam-do, Hyundai Wia executives announced a long-term management plan to double its annual sales between by 2030 to 16 trillion won. The company also declared the new vision “Wia, The Next Solution.”

First of all, Hyundai Wia unveiled its goal of rising to a next-generation four-wheel drive (4WD) automotive parts maker. To this end, Hyundai Wia plans to develop 4WD systems for eco-friendly cars by 2020 and mass produce such systems that will be made available to all cars by 2025.

“Eco-friendly 4WD systems are eco-friendly and contributing to improving mileages.” a Hyundai Wia official said.

Hyundai Wia plans to enter the market of heat management systems for managing the inside temperature of EVs.

A heat management system designed to prevent overheating of batteries is essential for EVs. It optimizes EVs’ functions and longevity by adjusting the inside temperature of an EV and managing the heat of major components such as motor and inverter battery.

Hyundai Wia plans to complete the development of technologies related to heat management parts by 2020 and enter the business of heat management parts for eco-friendly cars starting 2021.

The company is looking to develop and commercialize a system to predict the performance and longevity of machine tool parts by 2025. Through the project, Hyundai Wia plans to develop an “Intelligent smart factory platform” by 2030.

About Hyundai Wia

Founded in 1976, Hyundai Wia has been developing and producing cutting-edge products in automobile parts, machine tools, industrial machines, and defense industry, becoming the leader in the comprehensive field of machine industry.

In addition to being a world-class automobile parts manufacturer, Hyundai Wia has Korea’s best technologies in machine-making-machines and machine tools. We supply innovative products with the highest quality and performance to automobile manufacturers around the world.

From processing materials for basic automobile parts, Hyundai Wia manufactures automobile engines, turbo chargers, constant velocity joints, and complete power train products while actively responding to new automobile technology trends. Furthermore, we supply ultra-precision machine tools and factory automation lines to upgrade the quality capacity of global manufacturing companies.

Having completed the foundation for global manufacturing industries, Hyundai Wia seeks to make extensive investments in R&D and aggressively expand global production network to create a better future.