Auto parts maker Hyundai Mobis Co. South Korea said on August 18 that it would set up two production-focused units to meet a growing mobile market in the future.

Hyundai Mobis will integrate key business functions and acquire subcontractors to form two separate business units, one focused on the production of modules and the other on the production of parts. core of the car, the company said.

Hyundai Mobis will focus on research and development (R&D) projects for future mobility solutions in line with parent company Hyundai Motor Group’s push for electrification.

The company also plans to hold an extraordinary shareholder meeting in September 2022 to seek approval of the plan, and aims to launch two separate production units by November 2022, the company said. ty said.

Hyundai Mobis is a key subsidiary of Hyundai Motor Group, which includes Hyundai Motor Co. and Kia Corp. Hyundai Mobis owns 21.43% shares of Hyundai Motor.

Source Yonhap