Hyundai Mobis signs $443 million deal to sell lamp unit to France's OPmobility
The headquarters of Hyundai Mobis in Gangnam District, Seoul / Yonhap
Hyundai Mobis, Korea's biggest auto parts maker, said Wednesday it has signed a deal to sell its lamp unit to French auto parts maker OPmobility for 600 billion won ($443 million) following its spin-off in April.
Under the deal, Hyundai Mobis will sell its 100 percent stake in the lamp division to OPmobility as part of efforts to secure a sustainable growth base and better respond to the rapidly changing mobility market, the company said in a press release.
"The decision will serve as a significant turning point for the company to transform into a future mobility solutions provider, while ultimately helping enhance its corporate and shareholder value," the company said.
Hyundai Mobis' lamp business has five plants in Korea, China, Mexico and the Czech Republic, with overall sales reaching 2.5 trillion won last year, according to OPmobility.
The French firm said it expects the acquisition to bolster its lamp business and strengthen its competitiveness in the rapidly evolving mobility industry.
It aims to complete the acquisition in the second half of 2027 after obtaining antitrust and regulatory approvals.
"The combination of Hyundai Mobis' lighting business with our own lighting activity will enable us to reach a new scale and create a leading player in the automotive lighting market," OPmobility Chief Executive Felicie Burelle said.
"Thanks to the strong complementarity of the two businesses, this move will strengthen our presence in Asia, North America and Europe."