Hyundai Mobis Expands its Discovery of Silicon Valley Mobility Startups in the US
SEOUL, South Korea, Sept. 14, 2023 /PRNewswire/ -- Hyundai Mobis is expanding its investments in global startups with core future mobility technologies. The strategy is to bolster competitive allies in specific areas, such as semiconductors, software, autonomous driving sensors, and infotainment, and support their growth into unicorn companies. In the past five years, Hyundai Mobis has come close to investing 2 trillion won directly in these companies.
On the 14th, Hyundai Mobis announced that it had organized the 'Mobis Mobility Day' under the guidance of the Silicon Valley startup investment hub, 'Mobis Ventures Silicon Valley (MVSV).' Over 200 attendees, including Silicon Valley mobility startup representatives, academics, and investors, attended the event, making it the second of its kind.
Mobis Mobility Day is where Hyundai Mobis shares its future mobility vision with local companies and explains its investment plans. There is an opportunity to network with promising startups seeking to participate in technological development or looking for investors and also network with other investors.
This year, the event was themed 'Clean Mobility on the Rise,' indicating the emergence of eco-friendly mobility centered on electrification. It is known that there were high-level discussions with speakers, including local investment representatives from semiconductor companies such as Qualcomm, Intel and AMD, and CEOs of AI companies.
Mitchell Yun, the head of MVSV who hosted the event, stated, "More startups than last year are looking for collaboration through Hyundai Mobis's investment," and "We will focus on discerning the valuable ones by understanding Silicon Valley's market trends and technological movements."
Since establishing its base in Silicon Valley in 2018 with MVSV, Hyundai Mobis has continuously expanded its discovery and investment in local startups. Collaborations with these startups have led to tangible results, such as achieving significant orders based on new technologies.
Hyundai Mobis is also expanding its investment and collaboration with promising global enterprises in electrification. The intention is to join hands proactively with globally promising companies to secure breakthrough technologies, ensuring a superior advantage in the electric vehicle sector. Hyundai Mobis has been committed to independent technological development, securing a competitive edge in critical electric vehicle components ahead of other parts suppliers. Recently, it has proven its global competitiveness by procuring an extensive battery system (BSA) order from Volkswagen.
About Hyundai Mobis
Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India. For more information, please visit the website at https://www.mobis.co.kr/.
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SOURCE Hyundai Mobis
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