Hyundai Mobis Reportedly Plans 40-60B Won HEV Pack Lines in India, Indonesia

Hyundai Mobis has launched bidding for battery module and pack equipment for hybrid-electric vehicle (HEV) lines in India and Indonesia, TheElec reported on Oct. 28, citing industry sources. The two plants are expected to cost 40 billion to 60 billion won combined.

TheElec put the equipment cost at 20 billion to 30 billion won per production line. The new lines are designed for 2170 cylindrical cells, which measure 21 mm in diameter and 70 mm in height. LG Energy Solution and Samsung SDI are mentioned as possible cell suppliers, but neither has been confirmed. Hyundai Mobis buys cells, assembles them into modules and packs, and adds cooling and battery management systems to build battery system assemblies for Hyundai Motor and other automakers.

For the cell supply chain, the signal is a possible new outlet for Korean cylindrical cells outside Korea, the US and Europe. Hybrid packs use far less energy than full EV packs, so the lines add assembly capacity rather than large cell volumes, and TheElec gave no GWh figure or cell order. Voltgrid News has tracked the Korean makers' recent moves, including Samsung SDI's third US LFP line.

Where the money has already gone

Hyundai Mobis spent about 70 billion won on module and pack equipment in North America and Europe in the second half of this year, according to TheElec. In August it placed orders in the US worth more than 40 billion won, with HEV lines using cylindrical cells and extended-range EV (EREV) lines using prismatic cells. In September it ordered more than 25 billion won of equipment for pouch cells at its Czech plant and plans a prismatic line there.

Korean equipment maker Toptec won the three contracts, which total 66.8 billion won: 20.1 billion won for the US HEV line, 21.1 billion won for the US EREV line and 25.6 billion won for the Czech EV line. TheElec said that is about 39% of Toptec's 171 billion won revenue last year. Counting the India and Indonesia lines, battery equipment spending is estimated to exceed 100 billion won, about 5% of Hyundai Mobis's 2.1913 trillion won capital plan for the year.

Why India and Indonesia

Hyundai Mobis already runs battery system assembly plants for EVs in Chennai, India, and near Jakarta, Indonesia, supporting Hyundai Motor's local output. Hyundai Motor finished a new plant in Pune this month, which TheElec said lifts its Indian capacity to nearly 1 million vehicles a year, and plans an HEV version of the Creta SUV in India in 2027. Hyundai Motor's Indonesian plant can build up to 250,000 vehicles a year.

What is not confirmed yet

The bidding is reported from industry sources, and Hyundai Mobis has not announced the lines, their capacity or a start date. No equipment supplier or cell supplier has been named for the India and Indonesia lines. Hyundai Mobis is due to report third-quarter earnings on Oct. 30, with consensus at 16.0995 trillion won of revenue and 944.7 billion won of operating profit, according to TheElec.