Hyundai Mobis Confirms Spin-Off and Sale of Lamp Business Next Year: "Selection and Focus"

Formal Contract Signed with French OP Mobility

Hyundai Mobis announced on September 30 that it has signed a formal contract to sell its lamp business to OP Mobility, a French automotive parts company.

On this day, Hyundai Mobis held an extraordinary board meeting and approved the agenda to physically spin off its lamp business division. Subsequently, the company signed a stock purchase agreement (SPA) for the lamp business division with OP Mobility.

The scheduled effective date of the spin-off is April 1, 2027. After the spin-off is complete, Hyundai Mobis plans to sell the division to OP Mobility. Accordingly, all personnel subject to succession in the spun-off division will have their employment and all related rights and obligations transferred to OP Mobility.

Hyundai Mobis explained that this sale aims to enhance the business expertise and external competitiveness of the lamp business division, as well as to strengthen new growth engines and core business capabilities.

Since entering into a memorandum of understanding (MOU) with OP Mobility in January of this year for the transfer of the lamp business division, Hyundai Mobis has explored various measures to bolster the competitiveness of both the lamp business and Hyundai Mobis overall.

A Hyundai Mobis representative stated, "We plan to proceed with the remaining procedures required for the sale, including the shareholders' meeting and merger filing," and added, "We will move forward with follow-up measures to ensure the stable spin-off of the lamp business and the establishment of a new operational system."

This content was produced with the assistance of AI translation services.