Hyundai Mobis wins largest overseas orders of $4.65 billion in 2022

Hyundai Mobis Plant in Ohio, U.S. [Image source: Hyundai Mobis]

Hyundai Mobis Co. received new orders worth $4.65 billion in total from overseas carmakers last year, a two-fold increase from the previous year and the best performance in overseas business for mainstay car parts.

The feat represents a non-captive order excluding its affiliated companies, Hyundai Motors Co. and Kia Corp., which are under Hyundai Motor Group, and this means the Korean car parts maker’s robust expansion into the global market.

The order expansion is led by KAM, Hyundai Mobis’ organization dedicated to key accounts in regional bases. Hyundai Mobis operates 44 global production bases and is conducting aggressive marketing led by local sales organizations.

Components for electrification are already added to the list of flagship products, contributing to the company’s growth. During a conference call for 2022 earnings last week, Hyundai Mobis said it achieved a record 51.9 trillion won ($42.13 billion) in sales.

New global orders for Hyundai Mobis have steadily increased in recent years, with $1.75 billion in 2020, $2.5 billion in 2021, and $4.65 billion in 2022. The company aims to win new orders worth $5.36 billion this year.