Hyundai Mobis CEO Sung-hwan Cho introduced mobility platform provider strategy at the 44th Vienna International Motor Symposium

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Apr 28, 2023, 03:00 ET

Dr. Cho elaborated on the "mobility platform provider" strategy at the 44^th Vienna International Motor Symposium.
He presented the business expansion strategy being applied on new growth areas, such as UAM, robotics, and PBVs.
Dr. Cho said, "Advancement of the mobility technology will improve the quality of life and values of people."

VIENNA and SEOUL, South Korea, April 28, 2023 /PRNewswire/ -- Hyundai Mobis (KRX 012330) CEO Sung-hwan Cho attended an international symposium and illustrated the company's strategy that had previously been announced at this year's CES for taking the business to the next level as a mobility platform provider. He also implied the company's willingness to strengthen its key competitiveness in the future mobility sector, such as with electrification, autonomous driving, and connectivity, and to advance the new businesses that will be the next growth drivers for Hyundai Mobis.

Hyundai Mobis announced on 28 that the CEO Sung-hwan Cho was invited to the 44th International Vienna Motor Symposium held in Vienna, Austria as a lecturer where he presented on the topic, "Strategic Approach of Hyundai Mobis for the Vision of Hyundai Motor Group on Future Mobility."

The Vienna Motor Symposium is an internationally recognized annual symposium in the automotive industry. This year, the symposium focused on the theme of electrification of the powertrain, which has become a huge wave of change in the global automobile industry. Allegedly over 1,000 people from global automakers, automotive suppliers, and academics from 25 countries flocked to Vienna for the event.

In the lecture, Dr. Cho introduced Hyundai Motor Group's vision for the future mobility and gave a clear picture of Hyundai Mobis' strategy in connection with the group's approach. Dr. Cho stressed in the presentation that "Hyundai Mobis will deliver a differentiated platform to customers in the electrification, autonomous driving, and connectivity sectors based on software with exceptional quality and optimum semiconductors."

He also expressed the company's intention to promote the new businesses that will be the next growth engines for the company. That is, using electrification element technology, such as the battery system it has already secured, to propel new businesses forward like UAM and robotics. Hyundai Mobis is mass producing and supplying the battery system assemblies (BSA), the electric drive units, and the integrated charging control units (ICCU) that are installed on EV platforms. The company plans to give shape to its strategy of scaling up such key electrification technology to new growth engine businesses in the near future.

At the symposium, Dr. Cho also emphasized that innovation in mobility technology is vital to enhancing the value and quality of people's lives. He explained, "Hyundai Mobis strongly believes that mobility technology is an important key to contribute to solving universal problems including climate change, urban overcrowding, and aging population, and that our innovation must support sustainable growth."

His vision for future technology was also disclosed at CES this year. Hyundai Mobis has revealed M.VISION TO, a Purpose Built Vehicle (PBV) concept at CES 2023. M.VISION TO is an autonomous electric vehicle that is designed to not only increase the freedom to move without the need to drive, but also serve various other purposes depending on user needs, including letting people with disabilities or in wheelchairs get in and out with ease or carrying cargo.

The 44th International Vienna Motor Symposium was attended by Hyundai Mobis CEO Sung-hwan Cho, Thomas Schmall, Member of the Board of Management of Volkswagen AG, Bosch-CEO Stefan Hartung, and Vice President of Mercedes-Benz Christoph Starzynski. Fervent discussions on the future of the mobility industry and the global transition to electrification were held throughout the symposium centering around the presentations by above lecturers.

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/

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SOURCE Hyundai Mobis