Hyundai Mobis has expanded its electric vehicle (EV) investments to auto parts and chips.
Hyundai Mobis is a member of the Hyundai Motor Group and is one of Korea’s leading auto parts manufacturers. Mitchell Yun Hyundai Mobis, CEO of Mobis Ventures Silicon Valley, said this year it would expand investments in auto parts for EVs.
Yoon stated that Hyundai Mobis’ investment in EV parts will account for 70 percent of the company’s total investment this year. Materials that improve EV performanceYoon added that Hyundai Mobis will invest in automotive chips and expand its semiconductor supply chain.
The South Korean company is also considering investing in startups. However, Hyundai Mobis has decided to reduce its investment in autonomous driving technology. While Mobis may not be investing in autonomous driving technology, Hyundai Motor Group is still developing autonomous driving technology together with Motional. Hyundai Motor Group has recently announced that it will invest in about $1 billion investment in Motional to develop autonomous driving technology.
Yoon acknowledged that demand for EVs in the global auto market is slowing, but stressed that there will eventually be a shift towards greener vehicles.
Hyundai Motor Group is investing heavily in EV development around the world. With a particular focus Recently, Hyundai Motor America CEO Randy Parker said the company Double down on EV investment.
“While other manufacturers are stepping back on their electrification strategies, we remain focused on our products, and our products are performing very well in the marketplace,” Parker said. The Verge.
If you have any tips, please contact me at maria@teslarati.com or via X @Writer_01001101.
