SEOUL, South Korea, Oct. 16, 2024 /PRNewswire/ -- Hyundai Mobis (KRX: 012330), is expanding its electrification business for global automakers by establishing an additional production base for crucial electric vehicle (EV) components in Europe. This will be the company's third electrification hub in Europe, following existing sites in the Czech Republic and Spain.
On the 16th (local time: 15th), Hyundai Mobis announced that it had signed an investment agreement with the Slovak government to build a new plant to produce a PE system, a key EV component, in Novaky, Slovakia, and construct a factory for electric vehicle braking systems within its existing facility in Zilina. Hyundai Mobis President Lee Gyu Suk and Slovak Prime Minister Robert Fico attended the signing ceremony at the Slovak Government Office in Bratislava.
Hyundai Mobis is already producing battery systems (BSA) in the Czech Republic and is building a battery system plant in Spain. The new plant in Novaky, Slovakia, will focus on producing PE systems, making it Hyundai Mobis's first European production base for this key electrification component. PE (Power Electric) systems are integrated drive units that incorporate electric motor and inverter to ensure optimal performance.
At the signing ceremony, Hyundai Mobis President Lee Gyu Suk commented, "With the support of the Slovak government, we will expand our electrification business in Central Europe, centered around the new PE system plant in Novaky."
The new Slovak production base will involve an approximately KRW 350 billion investment. The electrification plant will occupy a site of approximately 105,700 square meters with KRW 250 billion dedicated to its construction, which is slated for completion by the second half of next year. Once operational, the plant will have the capacity to produce 300,000 PE systems annually for the European market. An additional KRW of 95 billion will be invested in constructing new facilities for producing braking systems and airbags within the existing Zilina plant.
About Mobis
Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China and India. For more information, please visit the website at http://www.mobis.com.
Media Contact
Choon Kee Hwang: ckhwang@mobis.com
Myong Sun Song: sms@mobis.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hyundai Mobis Signs Investment Agreement with Slovak Government to Establish New Electrification Plant
SEOUL, South Korea, Oct. 16, 2024 /PRNewswire/ -- SNS Journalist Federation (Chairman Yong-doo Kim) announced that it will host the "ICAE 2024 International Conference in Action for the Earth Environment" on October 29th at 5:00 PM (KST) in the National Assembly Member's Hall of South Korea.
The ICAE (The International Conference in Action for the Earth Environment) is an annual event organized by SNS Journalist Federation (SNS Press Broadcasting Foundation) to explore practical strategies for implementing the UN SDGs and restoring the global environment.
This year, the conference is co-hosted and organized by the Office of National Assembly So-hee Kim, SNS Journalist Federation, International Youth Cultural Exchange Federation, the ICAE Organizing Committee, and TSN KOREA Co.,Ltd.
The UN SDGs set human rights, climate change, and socio-economic issues to be solved by 2030, with 17 goals and 169 targets as global objectives. SNS Journalist Federation and partner organizations host the annual ICAE Conference to promote action on these targets and foster environmental sustainability and global leadership.
Under the theme of "ESG Together," the event will focus on identifying global leaders from various fields who can help address environmental(E), social(S), and governance(G) challenges and contribute to building a sustainable future. The following topics will be presented:
Yong-doo Kim, Co-Chairman of the conference, will deliver a keynote speech on "Social Value Management and ESG Management by Global Leaders," alongside presentations by Lee J. Ernst, Adjunct Professor of Business at Hanyang University ; John Gleasure, Founder of DAZN and Chairman of TSN (Sporting News Holdings) ; Colin Meagle, Founding Partner of Continuous Ventures ; and Kong-young Park, Chairman of Uriseed Co.,Ltd. They will present on "ESG Management and Financial Investment Practices." The session will be chaired by Yong-ha Jeon, Chairman of the Global Marketing Association (GMA).
TSN KOREA(The Sporting News Korea, Chairman Yong-doo Kim) will present its ESG vision for the sports industry as well as the inauguration ceremony for the ESG Expert Committee. Co-chairman of the conference, John Gleasure, Chairman of TSN, will deliver a congratulatory message for the launch of TSN KOREA, followed by congratulatory video messages from international associates.
Prominent figures from global companies and institutions will attend which include Colm Piercy, Chairman of Continuous Ventures, Colin Meagle, Founding Partner of Continuous Ventures, Paul Wallis, Director of Epsilon (Publicis Groupe), Member of Parliament So-hee Kim, and Young-jin Kim, former Minister of Agriculture and Forestry, Jang-seop Oh, former Minister of Land, Infrastructure and Transport.
The ICAE also serves as a platform for International Youth Cultural Exchange Federation(Chairman Jae-Hwan Sim) to nurture future global leaders. Since January 2024, students from seven countries have engaged in online and offline exchanges to promote the UN SDGs and their results will be presented.
Yong-doo Kim, Chairman of SNS Journalist Federation & TSN KOREA has committed to raising awareness of social issues like injustice and inequality and promoting practical solutions. Kim emphasized that "The beginning of restoring the global environment starts with a change in mindset and action. Only through unified and proper action can we stop the destruction of our planet."
Regarding this event, Chairman Kim expressed his aspirations: "The importance of ESG management is growing year by year. By continuously hosting the International Conference on the Earth Environment and the Awards Ceremony, we aim to recognize individuals and companies that are leading social contributions and ESG practices, and we will present concrete strategies for mutual growth."
- Conference Website : https://snspbf.com/ICAE
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
ICAE 2024 'ESG Together' The International Conference in Action for the Earth Environment and Awards Ceremony, 10/29/2024, National Assembly Member's Hall of Korea
