Auto supplier Hyundai Mobis to expand in North America for EV transition

Kalea Hall
The Detroit News

Hyundai Mobis, a South Korea-based global auto supplier, is planning to expand operations across North America for the electric vehicle transition, the company said Wednesday at the Detroit auto show. 

Axel Maschka, executive vice president and head of Hyundai Mobis global original equipment sales, said the company will construct more EV-dedicated sites in the region to manufacture EV components including battery system assemblies. 

"In general, our expansion follows customer business," Maschka said in an interview.  "Now, we have contracted large electric vehicle businesses. We are now expanding on these businesses."

Currently, Hyundai Mobis has 44 production bases, including North American facilities in Alabama, Georgia, Ohio and Michigan. The new sites will be near automaker production facilities, with the expansion expected to start mid-decade. 

The company also has plans to increase sales orders in North America with its technologies for electric and autonomous vehicles, including the electric complete chassis platform module (eCCPM) and next-generation augmented reality heads-up display. 

Hyundai Mobis' goal is to reach a compound annual growth rate of 36% in the North American market through 2030.

The company said it's had "steady growth" in orders for the last few years, with $660 million in orders in 2020, $1.4 billion in 2021, and $1.7 billion in the first half of 2022. The increases are a result of orders for EV products. 

Maschka said the company is "quite optimistic and probably going to exceed our targets for this year."

khall@detroitnews.com

Twitter: @bykaleahall