Hyundai Mobis expands its discovery of Silicon Valley mobility startups in the US

Hyundai Mobis expands its discovery of Silicon Valley mobility startups in the US

Published: 15-09-2023 13:24:00 | By: Pie Kamau | hits: 3163 | Tags:

Hyundai Mobis is expanding its investments in global startups with core future mobility technologies. The strategy is to bolster competitive allies in specific areas, such as semiconductors, software, autonomous driving sensors, and infotainment, and support their growth into unicorn companies. In the past five years, Hyundai Mobis has come close to investing 2 trillion won directly in these companies.

On the 14th, Hyundai Mobis announced that it had organized the 'Mobis Mobility Day' under the guidance of the Silicon Valley startup investment hub, 'Mobis Ventures Silicon Valley (MVSV).' Over 200 attendees, including Silicon Valley mobility startup representatives, academics, and investors, attended the event, making it the second of its kind.

Mobis Mobility Day is where Hyundai Mobis shares its future mobility vision with local companies and explains its investment plans. There is an opportunity to network with promising startups seeking to participate in technological development or looking for investors and also network with other investors.

Since establishing its base in Silicon Valley in 2018 with MVSV, Hyundai Mobis has continuously expanded its discovery and investment in local startups. Collaborations with these startups have led to tangible results, such as achieving significant orders based on new technologies.

Hyundai Mobis is also expanding its investment and collaboration with promising global enterprises in electrification. The intention is to join hands proactively with globally promising companies to secure breakthrough technologies, ensuring a superior advantage in the electric vehicle sector. Hyundai Mobis has been committed to independent technological development, securing a competitive edge in critical electric vehicle components ahead of other parts suppliers. Recently, it has proven its global competitiveness by procuring an extensive battery system (BSA) order from Volkswagen.