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5. Hyundai Mobis Co., Ltd. Business Report FY ended Dec. 2018

Hyundai Mobis Co., Ltd. Business Report FY ended Dec. 2018

Contract

-The Company announced a plan to fully expand into the in-vehicle digital meter cluster market. The company has already begun the mass production of 7-inch digital instrument clusters for the Kona compact crossover electric sports utility vehicles (SUVs). This instrumental cluster is designed based on the Autosar standard automotive software platform and comes with a high-resolution (1280 x 720) display. (From a press release on May 9, 2018)

-The Company announced on May 8, 2018, that its core component sales in 2018 in China had reached USD 423 million. The Company has won a USD 200 million order for premium sound systems from one of the five local automakers for the delivery starting in 2020. It also has signed a contract with another domestic automaker on the supply of USD 35 million head-up displays (HUDs) from 2019. Its sales in China grew from USD 148 million in 2015 to USD 151 million in 2016 and USD 289 million in 2017. The Company expects to sell USD 1.07 billion in 2018. (From a press release on May 8, 2018)

Business Partnership

-Mobis Technical Centre, India, a wholly-owned subsidiary of the Company announced their collaboration with Tata Elxsi for the development of synthetic scene generator Tool. HMTCI and Tata Elxsi are working on developing a tool that can replicate every real-world scenario an automobile could theoretically encounter, which could run into millions of possibilities. This tool would help accelerate the ongoing research and development support HMTCI is providing to their OEMs in Autonomous Driving. Tata Elxsi’s is bringing together deep expertise in digital technologies including Artificial Intelligence, Extended Reality, and Gaming to develop this advanced simulation tool that will accelerate the realization of driverless cars. (From a press release on October 10, 2018)

-The Company signed an equity investment contract with a Korean startup, Stradvision, Inc. The Company is going to invest Korean won (KRW) 8 billion. The purpose of the investment is to jointly develop camera recognition technology required for safe autonomous driving systems. Stradvision has software, as its core technology, that identifies vehicles and pedestrians and recognizes texts written on the road signs, utilizing deep learning technology.  (From a press release on August 23, 2018)

Recent Development in Korea

-The Company is going to start mass production and supply of its proprietary brake and autonomous parking solutions. The Company has already prepared for the start of the mass production of its next-generation integrated MOBIS Electronic Brake (iMEB) and Remote Smart Parking Assist (RSPA) at the plants in Cheonan and Jincheon in South Korea. The control unit of iMEB combines advanced driver assistance systems (ADASs) such as Front Collision Avoidance (FCA) and Advanced Smart Cruise Control (ASCC), and also Electronic Parking Brake (EPB). RSPA supports automatic speed, steering, and acceleration/deceleration control, and has remote control function based on the use of a smart key. The Company intends to start with the mass production of iMEB and RSPA for green cars and later expand the application to conventional engine-powered vehicles. (From a press release on February 6, 2018)

-The Company announced that its sales of parts for environmentally-friendly vehicles in 2017 reached Korean won (KRW) 1.1 trillion. The Company supplies core components for all of the Hyundai and Kia green models, including the Hyundai Nexo hydrogen fuel cell vehicles. Also in 2017, the Company build a new plant dedicated to the production of components for green cars in Chungju-si, Chungcheongbuk-do, as part of its initiatives to invest heavily in this particular field. (From a press release on July 5, 2018)

Management Plan

-The Company announced that it would aim to acheive Korean won (KRW) 44 trillion in sales in 2025. The company aims to earn KRW 11 trillion in the future car business including autonomous driving and connected cars, KRW 7 trillion in the next-generation core parts business including brakes, steering and electronic devices and the remaining KRW 26 trillion in the investment business such as overseas operations. The Company generated USD 6 billion in revenue from global automakers in 2017, but it plans to expand the orders from the overseas customers to USD 10 billion by 2022. To meet these goals, the Company intends to raise its research and development (R&D) investment level to 10% of its sales from the parts business (KRW 1.8 trillion in 2025) step by step. Half of the research and investment budget will be focused on information and communication technology (ICT) such as autonomous drive sensors, intelligent speech recognition, and biometric authentication. (From a press release on April 26, 2018, January 12, 2018)

Award

-The Company was named Supplier of the Year by the US automaker, General Motors Company (GM), for the first time. It has been supplying integrated switch modules (ICS: Integrated Center Stack) of USD 1.1 billion in total to GM since 2010. It also provides other automotive components such as Automatic Occupant Sensor (AOS) and drum parking brakes to the US automaker. (From a press release on May 29, 2018)

R&D Structure

R&D Activities

-The Company has started using an artificial intelligent system called Mobis Artificial Intelligence Software Testing (MAIST) for its research and development (R&D) team working on green cars, autonomous driving cars, advanced driver assistance system (ADAS) and all other next-generation automotive technologies. The use of MAIST will start in July 2018. The Company also developed Mobis AI robot (MAIBOT), which is a system for searching documents in the Company’s R&D databases. The Company plans to expand the use of AI technologies in its R&D activities to speed up the growth of its next-generation automotive parts business. (From a press release on July 23, 2018)

-The Company has set up Mobis Software Academy in its technology research center located in Yongin, Gyeonggi, as an institute for more than 400 researchers to receive training on software business at the same time. The Company invested Korean won (KRW) 1.4 billion in the establishment of the new school. The academy’s most significant feature is its focus on software that controls sensors, logic controlling devices and other devices for autonomous driving systems. The Company currently has 400 software engineers in South Korea. The Company plans to expand the number to around 4,000 by 2025. (From a press release on June 11, 2018)

Product Development

Advanced Adaptive Driving Beam (AADB)
-The Company has developed an all-new intelligent headlamp named Advanced Adaptive Driving Beam (AADB), which safely ensures vision with the high beams turned on all the time while preventing the glare on other  driver of the car in front. AADB is to be linked to Advanced Driver Assistance System (ADAS). It uses onboard cameras to collect a wider variety of information as well as radars, automotive navigation systems, and steering angle sensors. With this new technology, vehicles can assess information on cars overtaking from the rear at high speed or those in front while making S-turns. (From some releases on Wednesday, October 24, 2018)

High-definition short-range radars for rear and side collision warning systems
-The Company announced that it had developed high-definition short-range radars for rear and side collision warning systems, using its independent technology. The new radars will be supplied to automakers in South Korea starting in 2020. Currently, the Company is also developing front long-range radars jointly with German radar manufacturers. It intends to develop all four types of radars (1 short-range, 1 middle-range, and 2 long-range radars) that are essential to autonomous driving by the end of 2018. (From a press release on September 20, 2018)

Dual-mode electronic steering system with two electric circuits
-The Company develops a dual-mode electronic steering system which uses two electric circuits during autonomous driving. Even if one circuit breaks down, the other circuit will work normally and maintain stable driving. The Company plans to complete the verification tests in general driving conditions, such as expressways, downtown, and parking, by the end of 2018, and start mass-production in 2020. (From a press release on July 26, 2018)

Radars for autonomous cars to detect 360 degrees
-The Company is going to develop radars for autonomous cars, which can allow cars to detect 360 degrees around them with German companies, SMS and ASTYX, by the end of 2018. It also plans to begin the full-fledged production of the product by 2021. The Company will cooperate with SMS for entry-level front and side radars and with ASTYX for high-performance front radars. It will also complete a joint research and development project with Seoul National University for improving the target distinguishment of radars. (From a press release on May 17, 2018)

12.3-inch meter clusters
-The Company is going to continue to develop 12.3-inch dual screen clusters and 3D clusters, for example, while setting its goal at mass-producing 12.3-inch meter clusters by 2020. (From a press release on May 9, 2018)

eARS (electrical Active Roll Stabilization)
-The Company has developed eARS (electrical Active Roll Stabilization), an electrically controlled suspension component. eARS is an auto component used to stabilize the body of a running vehicle by mitigating the leaning of the body caused by centrifugal force when the car turns quickly and the impact from irregular surfaces. "Based on our new electric chassis technology, we are planning to improve the safety of autonomous driving systems by applying our sensors such as radar, LiDAR and camera to them," the company explained. (From a press release on April 24, 2018)

e-Corner module systems
At the Consumer Electronics Show (CES) held in Las Vegas, the U.S. in January 2018, the Company announced a plan to complete the development of e-Corner module systems combining drive, brake, steering and suspension systems by 2021. The Company also plans to develop components of the module systems, four core technologies including Brake By Wire, Steer By Wire and e-Damper technologies by 2021. (From a press release on January 12, 2018)

Investment in Korea

-The Company held a ceremony to mark the start of construction of a new fuel cell stack factory at Chungju Plant in North Chungcheong Province. The construction is scheduled to finish at the end of May 2019. Once completed, the company is going to have a capacity to produce about 40,000 fuel cell stacks a year by 2022, instead of current 3,000. (From a press release on December 11, 2018)

-The Company has opened a new design lab "Design Model Workshop" in Yongin Technology Center located in Kyonggi, with an investment of Korean won (KRW) 3 billion. The new lab has advanced solutions such as a clay model processing machine and powder-based 3D printers. (From a press release on April 12, 2018)

Investment outside Korea

<U.S.>
-The Company launched an open innovation center called M. Cube. in Silicon Valley in the U.S. This new innovation center will be a hub for identifying, investing in and nurturing promising start-ups that work in areas such as autonomous driving, connectivity, artificial intelligence, and vehicle security. In cooperation with Hyundai Cradle, Hyundai Motor’s open innovation center in the U.S, M. Cube will focus its investment on start-ups possessing element technologies such as autonomous driving, and connectivity, while Hyundai Cradle will focus the strategy to next-generation technologies such as mobility solutions  and smart cities and those integrations with vehicles. Hyundai Mobis also has a plan to open another M. Cube in Shenzhen in China the first half of 2019. The M. Cube in Shenzhen will specialize in artificial intelligence and big data and operate with securing element technologies such as autonomous driving and connectivity optimized for the Chinese market, in partnership with local start-ups. (From some releases on November 4, 2018)