Hyundai Motor Declines Buyback of St. Petersburg Plant Sold for One Rouble
Hyundai Motor said on Monday it did not exercise its option to repurchase its former St. Petersburg assembly plant in Russia, which it sold to local partner Avtodom for one rouble in January 2023. By allowing the buyback option to lapse, Hyundai Motor permanently exits Russian vehicle manufacturing and relinquishes potential 200,000-unit annual capacity.
1. Hyundai Mobis Forms Quad Alliance for Holographic Windshield Display
Hyundai Mobis announced the launch of its “Quad Alliance” on February 3 in Seoul, partnering with ZEISS (optics), tesa (film adhesion) and Saint-Gobain Sekurit (automotive glass) to develop Holographic Windshield Displays (HWD) for mass production by 2029. This one-stop supply-chain solution blends Hyundai Mobis’s system integration and projector expertise with ZEISS’s optical design of the Holographic Optical Element (HOE), tesa’s replication of HOE film and Sekurit’s precision lamination into windshield glass. The alliance aims to deliver a transmittance rate of at least 92% and brightness exceeding 10,000 nits—twice the luminosity of typical outdoor LED billboards—while using HOE’s light-redirection to project separate driver and passenger screens, enabling in-vehicle infotainment without compromising safety or space utilization.
2. Hyundai Mobis Secures 9.17 Billion USD in Global Orders
In its February 2 disclosure, Hyundai Mobis reported securing 9.17 billion USD in orders from automakers outside of Hyundai Motor and Kia, surpassing its 7.45 billion USD core components target by 23%. Orders were led by large-volume contracts for Battery Systems Assembly (BSA) and chassis modules from North American and European customers, reflecting joint investments in production and logistics that typically extend over 10–20 years. In electronic components, the company won new contracts for advanced Human-Machine Interface (HMI) displays and premium sound systems from a North American sedan brand, expanding its high-value portfolio. With emerging-market wins in China and India for braking, steering and safety systems, Hyundai Mobis is targeting 11.84 billion USD in global orders this year, driven by core components stability and potential large-scale module deals.