Hyundai Mobis (KRX: 012330) is intensifying its strategy for the European market by participating in the Paris Motor Show, Europe’s largest automotive exhibition. Following a record-breaking overseas order volume of KRW 12 trillion (approximately £8 billion) last year, the South Korean automotive parts manufacturer aims to secure new clients and expand its orders in Europe, a significant market known for its rigorous quality standards.
The company announced on October 10 that it will set up a booth at the 2024 Paris Motor Show, which commences on October 14 in Paris, France. During this event, Hyundai Mobis plans to showcase its latest products and engage in sales activities with pre-invited clients. Established in 1898, the Paris Motor Show is the largest international auto exhibition in Europe, held every two years. Hyundai Mobis has already made strides in its global business operations this year, having participated in CES in the United States and Auto China in April.
This year marks Hyundai Mobis’ inaugural appearance at the Paris Motor Show. The company has previously enhanced its presence in Europe through exclusive technology showcases in Paris, targeting major global automakers such as Stellantis and Renault. By joining the Paris Motor Show, Hyundai Mobis aims to broaden its customer network and solidify its order base in Europe, leveraging the trust it has cultivated with its clients.
Hyundai Mobis will operate a ‘private booth’ during the exhibition, which will be accessible exclusively to pre-invited clients. The company has planned in-depth discussions with senior executives from leading European automakers, facilitating one-on-one meetings to explore new business opportunities. Attendees will also have the chance to experience hands-on demonstrations of key strategic technologies.
At this year’s Paris Motor Show, Hyundai Mobis is set to present ten strategic technologies aimed at global automakers, focusing on areas such as electrification, autonomous driving, in-vehicle infotainment (IVI) systems, and lighting systems. Key technologies on display will include next-generation electric vehicle power systems, advanced battery systems, an electronic software platform, transparent displays, and next-generation chassis systems known as X-by-Wire (XBW). These innovations have been chosen based on comprehensive analyses conducted by local sales experts and R&D teams, ensuring they align with European customer preferences.
Hyundai Mobis has shifted from its traditional strategy of showcasing a wide array of products at international exhibitions to a more customer-centric approach, emphasising tailored solutions that meet the specific needs of its clientele.
The company’s focused sales strategy has yielded impressive results in the European market. Last year, Hyundai Mobis achieved its highest-ever order volume, securing contracts worth USD 9.22 billion (approximately KRW 12.2 trillion) from North American and European global automakers. As the company gears up for the second half of the year, it plans to intensify its sales efforts to meet its ambitious order targets.
By participating in the Paris Motor Show, Hyundai Mobis not only aims to strengthen its foothold in Europe but also to showcase its commitment to innovation in the automotive industry, positioning itself as a leader in the development of advanced automotive technologies.