April 26, 2024

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[THE INVESTOR] Hyundai Mobis, Korea’s largest auto parts company by sales, is considering acquiring an electronic auto component maker to stay ahead in future car technologies, the company said on May 11.

In a recent interview with a foreign newswire service, Hyundai Motor Group Vice Chairman Chung Eui-sun, 47, said Hyundai Mobis is “looking at four to five electronic auto parts companies for strategic mergers and acquisitions to secure a future growth driver.” 

The only way for Hyundai Motor Group to survive is to transform itself into a company that can challenge advanced information, communication and technology (ICT) companies, the only son of Hyundai Motor Group Chairman Chung Mong-koo said.
  
By Song Seung-hyun and newswires (ssh@heraldcorp.com)