Hyundai Mobis has reportedly surpassed the production record of 51 trillion won last year. This achievement is attributed to the increased orders for global completed cars, including those from Hyundai Motor and Kia Motors.
According to the business report disclosed by Hyundai Mobis on March 12, the domestic production performance last year amounted to 30.47 trillion won (US$23.14 billion), marking a 19.2 percent increase, or 4.91 trillion won, compared to 2022. Meanwhile, overseas production during the same period increased by 9.1 percent, or 1.78 trillion won, reaching 21.39 trillion won. The combined domestic and overseas production performance totaled 51.86 trillion won, indicating an increase of over 6 trillion won compared to 2022.
Hyundai Motor and Kia Motors are Hyundai Mobis’ largest customers, accounting for 43.0 percent and 35.3 percent of sales revenue, respectively. The two companies achieved a combined global sales volume of 7.3 million units last year, securing the third position globally for the second consecutive year.
The delivery to global automakers is also ongoing. Hyundai Mobis supplies major module components to Stellantis for delivery in the North American and European markets. Additionally, the firm has been producing chassis modules for Mercedes-Benz in Alabama in the U.S. since the second half of 2022.
Both domestic and overseas factories have also increased their operating rates. Last year, the average operation rate of domestic factories was 91.2 percent, while overseas factories operated at an average rate of 64.5 percent. This marks the first time in four years since 2019 that the average operating rate of overseas factories has exceeded 60 percent.
Last year, Hyundai Mobis secured orders worth US$9.22 billion from global car manufacturers excluding Hyundai Motor and Kia, surpassing 10 trillion won. This year’s target for new orders is US$9.34 billion.