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Future mobility

Hyundai Mobis expands mobility business, reveals concept cars

Apr 01, 2021 (Gmt+09:00)

Hyundai Mobis M.Vision X using a 360º window as a display (courtesy of Hyundai Mobis)
Hyundai Mobis M.Vision X using a 360º window as a display (courtesy of Hyundai Mobis)

South Korea’s largest auto parts maker Hyundai Mobis will undergo significant reforms in its business model to become a future mobility platform and solutions provider.

Hyundai Mobis said at a press conference on Mar. 31 that it will shift its business focus away from traditional auto parts towards future mobility technologies and services.

“As the global auto industry is moving fast towards creating an ecosystem of platforms that integrate vehicles with various mobility services, auto parts manufacturers like us need to make structural reforms accordingly,” said Hyundai Mobis Executive Vice President Jung Soo-kyung.

The company will strengthen its current technological capabilities in electrification, autonomous vehicle and connected car segments to serve the diversified needs of global automakers, while also entering urban air mobility (UAM) and robotics sectors.

To achieve its ambitions, Hyundai Mobis will increase R&D investment to 1.7 trillion ($1.5 billion) by 2025 from the current 1 trillion won ($0.9 billion), and also raise the portion of R&D investment used on future innovation technologies from the current 14% to 30% by 2025.  

MID- TO LONG-TERM STRATEGY: TRANSFORMATION X-Y-Z

Hyundai Mobis will implement its full-scale business transformation in three directions, according to the company at the conference.

The first pillar, Transformation X, is about strengthening its existing capabilities in the areas of electrification, autonomous driving and connectivity to increase sales to global clients and reduce dependence on domestic automakers such as Hyundai Motor Co. and Kia Corp.

To this end, Hyundai Mobis will continue strategic investments in leading technology companies around the world, like the $50 million investment in Velodyne Lidar Inc., the world’s top light detection and ranging (LiDAR) company based in the US.   

Transformation Y is about expanding its business model based on the company’s core technological competencies. Some specific actions already being taken in this pillar include the ongoing project to jointly develop a level-4 autonomous robotaxi with Yandex, a Russian IT company.

Transformation Z looks beyond the next 10 years to find new long-term growth engines. This pillar is about finding opportunity areas outside the traditional automotive business, such as aerial mobility and robotics.

“Currently, we are looking for cooperation in the UAM sector within the Hyundai Motor Group. Hyundai Mobis will also be launching new platforms and systems that integrate software and hardware,” said Hyundai Mobis CEO.

FUTURE MOBILITY CONCEPT CAR

The company’s press conference also showcased two future mobility concept cars, M.Vision X and M.Vision POP.

Interior of M.Vision X (courtesy of Hyundai Mobis)
Interior of M.Vision X (courtesy of Hyundai Mobis)

M.Vision X is a 4-seater purpose-built vehicle (PBV). The name comes from the expansion of communication (“eXpansion”), connected experience (“eXperience”), and expedition into a new space (“eXpedition”), according to the company.

The PBV’s unique feature is that the vehicle windows can be transformed into a large display screen, providing the passengers a 360-degree experience of watching sports, movies or performances.

M.Vision POP is an EV-based micro-mobility concept car.

Its core concept is “Phobility,” a compound word of phone and mobility, which according to the company is a new way of “enjoying a mobility experience with smartphones.”

M.Vision POP is a 2-seater small EV mobility (courtesy of Hyundai Mobis)
M.Vision POP is a 2-seater small EV mobility (courtesy of Hyundai Mobis)

For example, smartphones can be docked onto the vehicle’s steering wheel, allowing the user to control the vehicle.

Moreover, smartphone sensors can be used for wireless steering of the vehicle, while user recognition or voice recognition functions are also available. Another feature is that M.Vision POP’s four wheels can be rotated up to 180 degrees, allowing 360-degree turns and easier parking.

“Our new mobility platform contains the spirit of technical exploration, which also enables people to share their thoughts and feel the joy of everyday life,” said Hyundai Mobis Vice President and Head of the Fundamental and Advanced Lab Cheon Jae-Seung,

Write to Il-Gue Kim at black0419@hankyung.com

Daniel Cho edited this article.

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