Hyundai Mobis Q2 net income up 16.6% y/y to USD557.6 million
Korean supplier plans to invest USD3.5 billion in capacity expansion over the next three years to serve EV market
Hyundai Mobis’s net income increased 16.6% year-over-year (y/y) to KRW 645 billion (USD557.6 million) in the second quarter ended 30 June 2019, the leading South Korean automotive supplier said in a press release. Sales increased 6.5% y/y to KRW 9.46 trillion. Higher sales also helped Hyundai Mobis to record 18.1% y/y growth in operating income to KRW627 billion.
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