Hyundai Mobis announces names for new auto parts, modules divisions
來源：開云體育app官方網站發布日期：2023-01-29 15:50:55 瀏覽：93589
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| Hyundai Mobis' virtual reality promotional booth at the 2022 Consumer Electronics Show in Las Vegas held in January. Courtesy of Hyundai Mobis |
By Baek Byung-yeul
Hyundai Mobis is close to launching its wholly owned subsidiaries, which will be responsible for manufacturing vehicle parts and vehicle modules, respectively, as the auto parts affiliate of Hyundai Motor Group announced the names of the two companies on Friday.
The company said its auto parts manufacturing subsidiary will be named Unitus while the module maker will be named Motras.
Hyundai Mobis went on to say that Unitus is a combination of the word unit and the French word "tous," which means "all" in English. Unitus will produce various chassis parts, electric parts, airbags and lamps.
Motras is a combination of the words "module" and "transform," which best represents its brand value of constantly seeking change through technological innovations. The company will be in charge of producing vehicle modules, which are a combination of large-sized vehicle components.
Until now Hyundai Mobis has produced auto parts and modules through in-house subcontracting after signing contracts with small-sized companies.
However, the company's practices in procuring parts and modules has raised potential labor risks as the Supreme Court recently ruled that workers of POSCO's subcontractors should be recognized as POSCO employees.
To minimize the labor risk, Hyundai Mobis announced its plan to establish the two subsidiaries in August.
On Oct. 5, the company decided to invest a total of 70 billion won ($49.7 million) in cash in these affiliates at a board meeting. Through the investments, Hyundai Mobis will wholly own the two subsidiaries.
Hyundai Mobis plans to apply for corporate registration of the two companies next week and the subsidiaries will be launched in November.
The company expects the two subsidiaries to generate revenue of between 500 billion won and 600 billion won in 2023, respectively.
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