Hyundai WIA Corporation (Formerly WIA Corporation) Business Report FY ended Dec. 2016
Financial Overview (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2016 | FY ended Dec. 31, 2015 | Rate of Change (%) |
Remarks | |
| Sales | 7,589,447 | 7,884,188 | (3.7) | -Sales at the automotive division totaled 6,432,774 million won, which made up 85% of the overall sales. |
| Operating income | 262,732 | 500,933 | (47.6) | - |
| Net income | 130,726 | 326,873 | (60.0) | - |
Recent Development in Korea
Mass-production of e-4WD
-The Company announced that it has completed developing an electronic four-wheel-drive (e-4WD) system and is readying for mass production. The electric motor drive system can be used in electrified vehicles including EVs, PHEVs, and HEVs. The Company became the first Korean manufacturer to develop this technology. e-4WD has a 30kW type and a 50kW type. Both versions offer a maximum torque of 20.9kg-m. (From a press release on November 8, 2016)
Recent Development Outside Korea
-A new plant in Mexico was completed in March 2016. The plant began producing engines and CVJs for customers in Mexico and North America. (From the Company's Annual Report for 2016)
Manufacturing
-The Company announced that it has produced an aggregate total of over 100 million constant velocity joints (CV joints) since it began producing them in April 1988. In November 2014, the Company increased its annual capacity in Jiangsu, China to 2.2 million units by adding a new line, which is capable of producing 800,000 units/year. In April 2015, it established a production structure to produce 1.6 million units of CV joints per year in India. In the first half of 2016, it started mass producing CV joints in Mexico, planning to produce over 200,000 units per year. The Company's CV joints are used on vehicles including the Genesis EQ900 from Hyundai Motor and the Chevrolet Spark and Chevrolet Cobalt from General Motors. (From a press release on March 21, 2016)
R&D Structure
| Facility | Location |
| Korea | |
| Automotive Parts Research Institute | Uiwang, Gyeonggi-do |
| Hwaseong Drivetrain R&D Center | Hwaseong, Gyeonggi-do |
| USA | |
| Hyundai WIA America Technical Center | Farmington Hills, Michigan |
R&D Expenditure (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2016 | FY ended Dec. 31, 2015 | FY ended Dec. 31, 2014 | |
| Amount | 68,483 | 67,345 | 70,979 |
| % of Sales | 0.90% | 0.85% | 0.93% |
Investment in Korea
-The Company announced that it will establish an engine plant in the Seosan Auto Valley in Chungcheongnam-Do. The Company will invest KRW 265.1 billion in this project, expecting that demand for diesel engines will grow in the medium- to long-terms. The project will begin in February 2016 and is scheduled to be completed in June 2017. (From a press release on February 19, 2016)
Recent Capital Investment Projects/Automotive Parts
|
(in billions of won) |
| Amount invested (FY ended Dec. 31, 2016) |
Planned amount of investment (2017) |
Planned amount of investment (2018) |
Total | Purpose of investment |
|
| Automotive parts | 252.8 | 196.1 | 934.0 | 542.3 | -Preparing production lines to manufacture components for new vehicle models and developing new technologies |