South Korea’s Hyundai Mobis Firm introduced at a board assembly final week that it plans to speculate up KRW10trn (US$8bn) over the subsequent three years to strengthen its “new mobility options” enterprise.

The Hyundai Motor Group affiliate stated the principle focus of the funding will probably be to strengthen its presence within the electrified powertrains section and in associated elements, the place it plans to speculate as much as KRW5trn-KRW6trn in “natural development”. It additionally plans to speculate an additional KRW3trn-KRW4trn to develop its autonomous driving, superior driver help system (ADAS) and software program improvement operations.

The corporate stated it would additionally “try to make exterior funding by means of strategic M&A, together with in autonomous driving and pertinent software program”, including that it’s going to additionally look to put money into new companies that can function the long-term development engine akin to superior air mobility (AAM).

Hyundai Mobis additionally plans to proceed to put money into R&D to enhance future mobility competitiveness in core components, together with electrification and digital elements. The corporate had beforehand introduced a goal to generate orders price US$5.4bn from world carmakers exterior the Hyundai Motor Group this yr, or some 10% of world revenues, up from the US$4.65bn focused in 2022.

Hyundai Mobis additionally stated it would put apart KRW5trn as a money buffer this yr to cope with unexpected developments attributable to rising market uncertainties, as the worldwide economic system continues to sluggish.