Hyundai Mobis, top auto parts maker of South Korea, announced its plan of increasing investment in electric vehicle (EV) parts and automotive chips this year. The announcement was made during the Mobis Mobility Day in Silicon Valley, where the company showcased its technological advancements to business partners.
Mitchell Yun from Mobis Ventures Silicon Valley stated that the firm plans to expand its investment in EV parts in 2024, with these projects accounting to raise the total investment up by 20%, reaching 70% from 50%. Despite a temporary low down in the EV industry, Yun expressed confidence in the industry’s shift towards eco-friendly vehicles.
While Yun did not reveal the investment amounts, he did emphasize the importance of focusing on automotive chips, to ensure a secure and stable semiconductor supply chain amid recent shortages. The company is considering investment in both startups and listed companies.
