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| Hyundai Mobis' booth at the 2019 Consumer Electronics Show in Las Vegas / Courtesy of Hyundai Mobis |
By Nam Hyun-woo
Hyundai Mobis has logged a record high of $1.7 billion in overseas orders in 2018, the auto parts company said Tuesday.
The number is up 40 percent from $1.2 billion in 2017. The company's overseas orders have been posting stable growth for years, recording $500 million in 2015 and $1 billion in 2016.
Hyundai Mobis attributed the growth to an increase in orders for advanced car parts from global carmakers, including advanced side-looking radars, steering wheel displays and smart lamps which display the car's status on its exterior to others on the road.
Another factor leading the company's growth was increased orders from electric vehicle (EV) makers in North America, Europe and China. More than 60 percent or $1 billion of last year's orders came from EV makers, which is a 60-fold growth from $15 million of orders it won in 2016.
"As we have succeeded in diversifying our portfolio with advanced parts for self-driving and connectivity technologies, we will continue our efforts to expand overseas orders in the future," a Hyundai Mobis official said.
