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Hyundai Mobis Co. revealed it has split up its auto parts and modules manufacturing businesses, so they are now two separate subsidiaries of the company. With this, it has set out to expand its module facility in South Korea.
As part of the plan, Hyundai Mobis will build another automotive module plant in Ulsan which is located in the Southeastern part of the Korean peninsula. This area is where its parent Hyundai Motor also operates its largest manufacturing complex.
Industry sources said this will be the auto parts company’s third factory for the production of modules. As per The Korea Economic Daily, the construction of another plant in the country comes after Hyundai Mobis spun off its vehicle module business into a fully-owned unit which it named Motras.
The company is investing KRW100 billion, or around $77 million, to build the new plant in Ulsan, and the construction will be under the Motras label. It is expected to be completed by the year 2026.
Currently, Motras module-making unit is already operating about 10 plants in the country. Once the Ulsan facility is in full operation, its products are likely to be used for the new vehicles being built by Hyundai Motor.
Meanwhile, Hyundai Mobis is also building another plant in Indonesia, and construction for this has officially started this month. This electric vehicle battery system plant is part of the auto parts maker’s push to further expand the EV market in Southeast Asia.
The Korea Herald reported that the groundbreaking ceremony was held last week in West Java. The target date of completion is within the first half of 2024. The exact site of Hyundai Mobis’ new plant in Indonesia is in the industrial complex of Kota Deltamas, which is about 60 kilometers away from the city capital of Jakarta.
Photo by: Hyundai Mobis Newsroom
