Hyundai Mobis Co. said that it will invest 1.2 trillion won ($948 million) for developing automotive electronics technologies by 2015. As part of the company's plans to strengthen its research and development capabilities, the company will also double the number of research personnel from 1,000 to 2,000 by the same year. The plans were announced at the event marking the 32nd anniversary of the company's establishment yesterday.Hyundai Mobis chief executive Kim Dong-jin said at the ceremony that the plans are designed to change the company's profit structure into one that can create more added value.
Through the plans, the company aims to develop hybrid and plug-in hybrid car technologies and intelligent automotive systems such as automatic parking and collision avoidance systems.The company said it will also build on existing onboard multimedia equipment such as audio and navigation systems to develop more advanced systems. The company also plans to increase the revenue generated from sales to original equipment manufactures to 22 trillion won ($17.3 billions) by 2015, from the 12 trillion won ($9.5 billions) projected to be generated from related fields this year. The company hopes to raise more than half of the 22 trillion won ($17.3 billions) OEM sales target set for 2015 from sales of core components such as steering and brake systems and hybrid car powertrain components.
At present such components account for about 30 percent of Hyundai Mobis' OEM sales.The plans also showed that Hyundai Mobis aims to become one of the world's five largest auto parts makers by 2020. Hyundai Mobis, the country's largest auto parts manufacturer, has only just been included among the world's top 20 parts makers.
Earlier this month, the company was assessed by the U.S. auto industry publication Automotive News as being the world's 19th-largest parts maker.
Source : The Korea Herald, by Choi He-Suk, July 2nd, 2009
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