Hyundai Mobis Co. plans to invest 1.15 trillion won ($1.02 billion) this year aiming to become one of the world’s 10 largest auto parts makers, the company said on Monday.
The company affiliated with Hyundai Motor Group will earmark 360 billion won for research and development for high-tech systems this year.
It will diversify its R&D personnel to include more engineers specializing in information technology, software, electronic engineering and mechatronics. The company also plans to build a new R&D facility by 2012 equipped with a testing system for the majority of its automotive components, the company said.
The company, currently ranked 12th in the auto parts industry globally, aims to post 26 trillion won in consolidated sales this year.
The company has yet to announce its fourth quarter results but analysts expect the firm to show record-high revenue in 2010, aided by Hyundai Motor Co. and Kia Motors Corp.’s advances.
For the first three quarters of last year, Hyundai Mobis posted sales of about 10.04 trillion won. Analysts put its fourth quarter sales estimate at about 3.61 trillion won, its largest ever quarterly revenue.
Its revenue totaled 10.63 trillion won in 2009. In consolidated terms, Hyundai Mobis and 29 overseas manufacturing and sales subsidiaries together reported 17.23 trillion won in sales in that year. The affiliates accounted for about 40 percent of the total.
By Choi He-suk (
cheesuk@heraldcorp.com)
