Seoul:Hyundai Mobis Co., South Korea's largest auto parts manufacturer, announced that it has signed an agreement to sell its lamp division to French auto parts maker OPmobility for 600 billion won (US$443 million). This sale follows the division's spin-off in April.
According to Yonhap News Agency, Hyundai Mobis will transfer its entire ownership in the lamp division to OPmobility. This decision is aimed at establishing a sustainable growth strategy and adapting to the rapidly changing mobility sector.
The lamp business of Hyundai Mobis operates five plants across South Korea, China, Mexico, and the Czech Republic, with sales totaling 2.5 trillion won last year, as reported by OPmobility.
OPmobility anticipates that the acquisition will enhance its lamp business and improve its competitiveness in the evolving mobility industry. The company plans to finalize the acquisition in the latter half of 2027, pending antitrust and regulatory approvals.
Felicie Burelle, Chief Executive of OPmobility, stated that integrating Hyundai Mobis' lighting business with their existing operations will allow them to reach new scales and become a leading force in the automotive lighting market. This move is expected to strengthen their market presence in Asia, North America, and Europe due to the complementary nature of the two businesses.