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Hyundai Mobis targets 15 pct rise in 2023 overseas orders

BIZ 09:41 January 31, 2023

SEOUL, Jan. 31 (Yonhap) -- Hyundai Mobis Co., South Korea's leading auto parts maker, said Tuesday it is targeting a 15 percent on-year rise in overseas orders this year amid rising demand for electric vehicle (EV) components.

Hyundai Mobis aims to achieve US$5.36 billion worth of orders from global carmakers, except for its captive buyers Hyundai Motor Co. and Kia Corp., in 2023, the company said in a statement.

The annual target is up from $4.65 billion orders obtained from overseas in 2022.

Hyundai Mobis is a key affiliate of Hyundai Motor Group, and it holds a 21.43 percent stake in Hyundai Motor.

Hyundai Mobis earns about 90 percent of its sales from Hyundai Motor and Kia, with 10 percent coming from other carmakers.

For all of 2022, its net profit rose 5.3 percent on-year to 2.487 trillion won ($2.02 billion), helped by robust sales of core EV parts and other high-end components amid recovering global vehicle production and improving chip supplies.

Operating profit fell 0.7 percent to 2.026 trillion won last year, while sales rose 25 percent to 51.906 trillion won during the same period.

Hyundai Mobis targets 15 pct rise in 2023 overseas orders - 1


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