Hyundai Mobis is reviewing an idea of establishing a new automotive parts plant in the Czech Republic as part of an effort to increase its supply not only to Hyundai Motor and Kia Motors but also to European carmakers such as Mercedes-Benz, BMW, and Volkswagen.
The Ministry of Foreign Affairs announced on July 22 that Korea’s Foreign Minister Yoon Byung-Se discussed with his Czech counterpart about Hyundai Mobis’ possible establishment of autoparts plant there during his recent visit to the country.
Yoon asked to reduce the tax that Hyundai Mobis would need to pay for acquiring a plant site in Mosnov, 350 kilometers east of Prague. The Korean auto parts company plans to sign an agreement with respect to the establishment of an autoparts plant in the Eastern European nation, if the issues related to tax and land acquisition are resolved.
At present, Hyundai Mobis is supplying domestically produced lamps to BMW and Volkswagen. For Mercedes-Benz, Hyundai Mobis is providing audio and intelligent battery sensors.