Hyundai Mobis, No. 6 Global Auto Parts Supplier, Bets on Automotive Chips

Chinese Suppliers Advance as EV Market Expands
Ranks Sixth for Third Straight Year with $33.5 Billion in Revenue
Launches TF with Hyundai Motor, LG Electronics and Others
Begins Developing 13 Types of Chips Through Collaboration Projects

Hyundai Mobis ranked sixth among global auto parts suppliers by revenue for the third consecutive year. Chinese companies continued to grow on the back of an expanding electric vehicle market. In South Korea, companies are also stepping up cooperation to localize automotive semiconductors in response to the automotive industry's shift toward electrification and intelligent systems.

According to the “Analysis of the World’s Top 100 Automotive Parts Suppliers,” released on October 26 by the Korea Automotive Technology Institute, the 100 suppliers’ combined revenue reached $939.6 billion in 2025, up 2.0% from the previous year. Hyundai Mobis ranked sixth with revenue of $33.5 billion, holding the position for the third consecutive year since 2023. Its revenue rose 1.7% year over year.

China’s CATL rose to third place globally, with revenue increasing 25.0% to $44.05 billion. The number of Chinese companies among the top 100 rose from 14 to 16, and their combined revenue increased 16.2% to $119.34 billion. Chinese companies also accounted for seven of the 10 companies with the highest revenue growth.

The growth of Chinese parts suppliers is linked to the shift toward electrification and intelligent systems. China produced 32.36 million vehicles last year, up 9.7% from the previous year. Expanding production of new energy vehicles is cited as one of the factors behind CATL’s growth. As key components such as batteries and automotive semiconductors become increasingly important, securing technological capabilities and supply chains has also become a challenge for domestic companies.

South Korea’s localization rate for automotive semiconductors stands at just around 5%. Since the process involves design, production, packaging, and vehicle validation, cooperation between companies that need the chips and semiconductor companies is essential.

The recently launched Automotive Semiconductor One-Team Task Force (TF) brings together a total of 24 companies and institutions, including demand-side companies such as Hyundai Motor, Hyundai Mobis, and LG Electronics; fabless companies such as LX Semicon and Telechips; and foundries such as SK keyfoundry and DB HiTek.

The One-Team initiative will connect the entire process: automakers and parts suppliers will specify their requirements, fabless companies will design the chips, and foundries will manufacture them before they undergo packaging and validation and are applied to vehicles. The government plans to support the identification of joint projects, research and development (R&D), and collaboration involving infrastructure and specialized personnel.

Hyundai Mobis has identified 19 system semiconductor projects for collaboration with domestic companies and begun development of 13 types of chips. For nine of these, it has also selected target vehicle models for use by Hyundai Motor and Kia, with the goal of installing them in mass-produced vehicles launching as early as 2029. Starting in 2027, controllers incorporating the semiconductors will be used in the early stages of vehicle development for testing and validation.

The companies are also laying the groundwork for developing power semiconductors for electric vehicles. Hyundai Mobis, SK keyfoundry, and eight other companies and institutions have agreed to jointly establish manufacturing and evaluation equipment, as well as infrastructure for testing in actual vehicles and on test tracks, for silicon carbide (SiC) power semiconductors for vehicles. The initiative aims to reduce the burden on small and medium-sized enterprises of securing equipment and support the commercialization of domestically produced products.

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