Hyundai Mobis to inject W1tr for future mobility this year

Hyundai Mobis, an auto parts making affiliate of Hyundai Motor Group, said Wednesday that it would invest 1 trillion won ($810 million) this year in some 2,000 research and development projects for future mobility, as part of its effort to secure competitiveness as a sustainable company. 

Under the plan, its workforce for research and development will expand to some 5,000, the company said.

Marking the 20th anniversary after changing the company name to Hyundai Mobis, the company mapped out three business goals for sustainability in its sustainable business report released on Wednesday: securing future growth engine in the field of autonomous driving, operating environmentally friendly business and creating values for local communities for coexistence. 

Hyundai Mobis said it will conduct some 2,000 R&D projects by the year-end, increased by 16 percent from the previous year. The amount for investment for R&D -- 1 trillion won -- has been increased by 60 percent compared to 2015. 

The company said it also plans to strengthen open innovation projects with overseas companies for future vehicle technologies. 

By making use of Mobis Ventures, the company’s innovation centers located in Silicon Valley in the US and Shenzhen in China, the company said it would expand technology development cooperation with startups producing infotainment systems and advanced driver assistance systems. 

Last year, Hyundai Mobis invested $50 million into Velodyne Lidar, one of the world’s leading firms developing lidar sensors for self-driving cars, to mass-produce level 3 autonomous driving lidar systems and for commercialization. 

By Kim Da-sol (ddd@heraldcorp.com)