Hyundai Mobis to buy semiconductor division

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Hyundai Mobis to buy semiconductor division

Hyundai Mobis agreed to acquire the semiconductor division of affiliate Hyundai Autron for 133.2 billion won ($122 million) to amp up its ability to develop electronics for automobiles.
The decision was made Friday at a board meeting.
Hyundai Autron specializes in researching and developing electronic control for cars including semiconductors, control units and software. It is 60 percent owned by Hyundai Motor and 20 percent each by Kia Motors and Hyundai Mobis.
The acquisition will take place on Jan. 1.
“Before, developing a controller’s specifications and it semiconductors were separate, making it hard to coordinate the two parts,” the company said in a release Friday.
“Integration of developing the controller and the semiconductor for each system is expected to create a synergy effect.”
Hyundai Mobis said it plans to expand into more high performance equipment.
“With the trend of autonomous cars and electric vehicles, the quality of semiconductors will determine the competitiveness of a controller,” the company said.  
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