Hyundai Mobis Reports 17.2% Q3 Profit Increase, Atlas Prototype Production to Start

Hyundai Mobis has reported a notable increase in its operating profit for the third quarter of this year, rising by 17.2% compared to the same period last year. The company recorded an operating profit of 914.1 billion won, alongside revenues of 15.7233 trillion won, marking a 4.6% increase in revenue.

In a significant move to bolster its robotics division, Hyundai Mobis will commence the production of prototype actuators for the Boston Dynamics humanoid robot, Atlas, starting next month. This initiative is part of the company's strategy to expand its footprint in the robotics sector, which is expected to grow significantly in the coming years.

The actuators, which are essential for the movement of a robot's joints, will be produced at the Uiwang Research Institute in Gyeonggi Province. Hyundai Mobis aims to verify the performance and reliability of these components in collaboration with customers, with an eye towards a supply timeline set for 2028.

In addition to actuators, the company is also focusing on internalizing technology for other robotics components, such as hand grippers and perception modules. This diversification is intended to attract various humanoid manufacturers as potential clients.

Hyundai Mobis plans to double its personnel in the robotics division and establish a new organization dedicated to expanding its core components portfolio. The company is also increasing its research and development investments, anticipating annual R&D spending to exceed 2 trillion won for the first time this year.