Seoul:Hyundai Mobis Co., an auto parts affiliate of Hyundai Motor Group, announced a 35.7 percent decrease in its third-quarter net profit compared to the previous year, primarily due to reduced foreign exchange and equity-method gains.
According to Yonhap News Agency, the company's net profit for the July-September period totaled 598.4 billion won (approximately US$446.8 million), down from 929.45 billion won a year earlier. Despite this decline, Hyundai Mobis experienced a 17.2 percent increase in operating profit, reaching 914.1 billion won, and a 4.6 percent rise in sales, amounting to 15.72 trillion won.
The company attributed its enhanced operating performance to a heightened demand for electric vehicle components in Europe and a favorable product mix, especially in automotive electronics. Additionally, Hyundai Mobis is planning to diversify its business portfolio by entering the humanoid robot components market. It intends to start producing prototype actuators for Atlas, a humanoid robot developed by Hyundai Motor Group's U.S. affiliate Boston Dynamics, at its Uiwang research center next month, with commercial production slated for 2028.
Furthermore, Hyundai Mobis aims to develop other essential robotic components such as hand grippers, perception modules, and controllers to bolster its presence in the humanoid robotics market. The company plans to establish a dedicated robotics team and double its workforce in this sector. It will also enhance coordination across customer relations, product planning, research and development, and manufacturing operations.
Looking forward, Hyundai Mobis anticipates its annual research and development spending to surpass 2 trillion won for the first time. This is part of its strategy to secure more overseas orders by advancing its electrification and automotive electronics technologies.