Hyundai Mobis Ranks as Top Five Global Automotive Parts Maker

President Cho Sung-hwan of Hyundai Mobis speaks under the theme on “Hyundai Motor Group’s future mobility vision and Hyundai Mobis’ strategic roles” at the 44th Vienna Motor Symposium in Vienna, Austria, on April 27. (Photos: Hyundai Mobis)

Hyundai Mobis placed 6th among global automotive parts makers in terms of sales, except battery makers.

The company saw the display, electronic parts and electrification businesses rebound on top of the best-ever performance of Hyundai Motor and Kia Motors.

A list of the top 1,000 global automotive parts makers, released by the Automotive News of the United States on June 28, showed that Hyundai Mobis ranked the 6th following Bosch of Germany, Denso of Japan, ZF of Germany, Magna of Canada and CATL of China.

The Automotive News included battery makers in the list of global top 100 automotive parts maker for this year.

If CATL is excluded, Hyundai Mobis would clinch the fifth place. The Automotive News announces the rankings of global automotive parts makers annually based on sales targeting global automakers, except after-sale services.

Hyundai Mobis logged $32.2 billion in sales targeting global automakers and ranked sixth among global automotive parts makers this year, as the company did last year.

It was in 2011 that Hyundai Mobis joined the club of the top 10 global automotive parts makers.

In the latest ranking, Hyundai Mobis surpassed its archrival Aisin of Japan, which ranked 7th.

A bird’s eye-view of an EV battery system plant for Hyundai Mobis, to be built at Bekasi, Jawa Barat, Indonesia.

The feat was owed to Hyundai Mobis’ preemptive steps to cope with an era of electronic vehicles by expanding winning orders on electrification and core parts.

Hyundai Mobis’ portion of sales from Hyundai Motor and Kia Motors still stands at as much as 70 percent, but the percentage tends to be decreasing.

Hyundai Mobis’ businesses are divided into module and core parts sectors at large.

The company’s future competitiveness hinges on the core parts sector rather than the conventional module sector. The core parts sector refers to chassis, brakes, lightings and electrification and displays.

In particular, Hyundai Motor has prioritized prior investments to ramp up its capabilities in the core parts sector.

The company has invested more than 1 trillion won annually in the past three years. Hyundai Mobis has seen winning orders surge on the back of investments from global automakers, except Hyundai Motor and Kia Motor, in the past four years.

The company earned $4.65 billion in winning orders on core parts from global automakers, a nearly two-fold jump. Hyundai Mobis aims to post $5.36 billion from global automakers this year.

Han Young-hoon, head of the Electronics Convenience and Control Lab at s Hyundai Mobis introduces the company's innovative display technologies during the 2023 Media Tech Day at The Studio M in Yongin, Gyeonggi-do, on June 26.

The company is hitting the gas to raise its market share on core parts such as vehicle displays. Hyundai Mobis is trying to step up its foothold in next-generation displays, such rollable displays and AR-HUD and swivel displays.

Hyundai Mobis Technology Research Institute held a session to demonstrate new vehicle display technologies on June 26 and disclosed its future plans.

Hyundai Mobis Vice President Han Young-hoon said, “We are developing diverse next-generation displays focusing on car inside space innovation and user satisfaction, and the time of commercializing next-generation technologies has not yet set, but it is likely to be possible soon.”