Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
Hyundai Mobis secures battery system assembly order from Volkswagen
Hyundai Mobis overseas production bases / Courtesy of Hyundai Mobis
By Kim Hyun-bin
By Kim Hyun-bin
Hyundai Mobis has secured substantial overseas contracts in the electric vehicle (EV) components business, marking a significant step toward global expansion. These contracts, involving bulk orders of EV components targeted at major global carmakers, show Hyundai Mobis' competitiveness in the global market, according to the company, Wednesday.
The company announced it has successfully obtained a contract to supply battery system assemblies (BSA) ― a key component for EVs ― to the renowned German carmaker, Volkswagen. The battery systems secured by Hyundai Mobis are intended for integration into Volkswagen's upcoming next-generation EV platform.
BSA refers to a fully integrated product combining battery packs with components such as battery management systems (BMS), ensuring the safe and efficient operation of EV batteries. High-capacity and high-efficiency battery systems are pivotal components influencing the quality and performance of EVs. Hyundai Mobis boasts a battery system portfolio applicable to all eco-friendly vehicles, including hybrids and electric cars.
The company plans to establish a new production base in Spain subject to approval by the board later this year, for the supply of battery systems. Currently, the company operates battery system production lines in Korea, China and the Czech Republic, while also constructing new EV bases in the U.S. and Indonesia.
This recent influx of orders establishes a solid foundation for Hyundai Mobis to target the global EV market in major regions. The success of these large-scale EV component orders stems from proactive investment in expanding global production bases and a dedicated local customer-centric sales force, as part of an aggressive marketing approach.
In light of these significant overseas contracts, Hyundai Mobis anticipates further orders for EV components in the global market. This comes as global carmakers increasingly invest in transitioning to EVs to capture the future mobility market.