Hyundai Mobis and Ulsan City signed an investment memorandum of understanding (MOU) on the establishment of an electric vehicle module factory at Ulsan Metropolitan City Hall on the 9th. The signing ceremony was attended by Ulsan Mayor Kim Du-gyeom and Hyundai Mobis CEO Lee Kyu-seok. From left to right in the photo, they are Lee Hyun-woo, Head of Module BU at Hyundai Mobis, Lee Kyu-seok, CEO of Hyundai Mobis, Kim Du-gyeom, Mayor of Ulsan, and Ahn Hyo-dae, Deputy Mayor of Economic Affairs in Ulsan. Photo provided by Hyundai Mobis.
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Hyundai Mobis is constructing a dedicated electric vehicle module (component bundle) factory in Ulsan.
Hyundai Mobis announced on the 9th that they have signed an MOU with Ulsan City for the establishment of a new electric vehicle module factory.
The factory will be located near the new electric vehicle factory Hyundai Motor is constructing in Ulsan.
Hyundai Mobis plans to supply chassis modules (components comprising systems such as suspension, steering, brakes that form the lower part of the car) and driver seat modules (components consisting of driving information, infotainment, air conditioning, airbags, etc.) for the Genesis electric car model that Hyundai Motor produces through this factory.
Approximately 90 billion won will be invested in the construction of the new factory, with a target completion date in the second half of next year.
Hyundai Mobis is expanding and establishing domestic and international production bases for electric vehicle components to cater to finished car customers entering the electric vehicle market.
In Korea, battery system (BSA) factories and Power Electric (PE) system factories, the equivalent of engines for internal combustion vehicles, are operational in Ulsan, Daegu, Chungbuk Chungju, and Gyeonggi Pyeongtaek. In addition, battery systems produced in China and the Czech Republic are supplied to the Hyundai Motor Group.
Furthermore, Hyundai Mobis is establishing a battery system factory in Indonesia and setting up production bases for battery systems and PE systems locally to respond to the electric vehicle new plant (HMGMA) Hyundai Motor Group is constructing in North America.
The trend of expanding and creating production bases to compete with global automotive companies continues.
Modules produced at the Alabama base in the United States are already being supplied to Mercedes-Benz, and a dedicated factory to supply battery systems for Volkswagen electric cars is under construction in Spain.
Lee Hyun-woo, Head of Module BU at Hyundai Mobis, stated, “We will enhance partnerships with finished car clients by supplying modules optimized for various upcoming electric vehicle models stably.”
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Current status of Hyundai Mobis’ electric vehicle component production bases. Provided by Hyundai Mobis.