Hyundai Mobis Expands its Discovery of Silicon Valley Mobility Startups in the US

15 September 2023

Hyundai Mobis is increasing its investments in startups worldwide that specialize in essential future mobility technologies. This strategic approach aims to build strong partnerships in specific areas like semiconductors, software, autonomous driving sensors, and infotainment, helping these startups grow into unicorn companies. In the past five years alone, Hyundai Mobis has committed nearly 2 trillion won directly to these startups.

On the 14th, Hyundai Mobis announced its 'Mobis Mobility Day,' organized with the guidance of the Silicon Valley startup investment hub, 'Mobis Ventures Silicon Valley (MVSV).' The event brought together over 200 attendees, including representatives from Silicon Valley mobility startups, academics, and investors, marking its second occurrence.

Mobis Mobility Day serves as a platform for Hyundai Mobis to share its vision for future mobility with local companies and detail its investment plans. It offers networking opportunities for promising startups interested in technological development or investment, as well as connections with other investors.

This year's theme, 'Clean Mobility on the Rise,' underscores the growing importance of eco-friendly mobility centered on electrification. The event featured discussions with notable speakers, including local investment representatives from semiconductor giants such as Qualcomm, Intel, and AMD, along with CEOs of AI companies.

Mitchell Yun, the head of MVSV who hosted the event, mentioned that "More startups than last year are seeking collaboration through Hyundai Mobis's investment," and added, "We will focus on identifying valuable opportunities by understanding market trends and technological advancements in Silicon Valley."

Since its establishment in Silicon Valley in 2018 alongside MVSV, Hyundai Mobis has continually expanded its efforts to discover and invest in local startups. Collaborations with these startups have yielded tangible results, such as securing significant orders based on new technologies.

Additionally, Hyundai Mobis is extending its investments and partnerships with promising global companies in the field of electrification. This proactive approach aims to collaborate with promising companies worldwide to secure breakthrough technologies, establishing a competitive edge in the electric vehicle sector. Hyundai Mobis has been dedicated to independent technological development, positioning itself ahead of other parts suppliers in critical electric vehicle components. Its recent achievement, securing a substantial battery system (BSA) order from Volkswagen, demonstrates its global competitiveness in the industry.