Auto Industry
Industry: Email Alert RSS FeedHyundai Mobis looks to the world for growth.(Insight)(Company Profile)
Automotive News, August, 2005 by Thorpe, Norman
Byline: Norman Thorpe
Hyundai Mobis is not a typical automotive supplier.
How many global Tier 1 suppliers own a professional basketball team? One. Hyundai Mobis owns the Mobis Phoebus.
"The objective is to give a friendly image to our customers,'' a Hyundai Mobis spokesman says of the team.
Hyundai Mobis bought the Korean Basketball League team about five years ago after changing its name from Hyundai Precision & Industry Co. and restructuring to focus on auto parts.
That restructuring has paid off.
From 2000 to 2004, the company's sales more than tripled, to $6.2 billion. As a result, Hyundai Mobis became Korea's largest parts company.
But Hyundai Mobis has a much bigger goal: become a global Top 10...
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