Hyundai Mobis wins record number of orders from foreign carmakers in 2022

Hyundai Mobis' Georgia plant [HYUNDAI MOBIS]

Hyundai Mobis won a total of $46.5 billion in orders from foreign carmakers last year, a record high.

That figure is almost double from last year, the auto parts maker said Tuesday, also surpassing its initial target by 25 percent. It does not include orders from Hyundai Motor or Kia.

The dramatic increase is the result of "large-scale orders for value-added components, such as advanced assistance systems integrated products from North America, Europe and China," Mobis said.

The company runs 44 stores around the globe.

Hyundai Mobis’ global orders have increased consistently over the years. The number of global orders totaled $1.8 billion in 2020, $2.5 billion in 2021, and soared to $4.7 billion last year.

Hyundai Mobis aims to log in $5.4 billion in orders from foreign companies in 2023.

“Global automakers are highly interested in our state-of-the-art technologies and award-winning products," said Axel Maschka, executive vice president of sales at Hyundai Mobis.

"We expect the company to grow by about 15 percent this year based on the strong trust with not only the existing customers, but also new customers.”

Mobis reported an all-time high of 51.9 trillion won ($42.2 billion) in revenue last year, up 24.5 percent on year. It is the first time the company surpassed 50 trillion won in annual revenue.

BY SARAH CHEA [chea.sarah@joongang.co.kr]