Hyundai Mobis, Hyundai Motor Group’s auto parts maker, on Wednesday unveiled its blueprint to shift the focus of its business model from conventional automotive component hardware to future mobility software and to transform itself into a platform-oriented company.

It also presented new mobility solutions and urban shared mobility concept cars -- the M.Vision X and M.Vision POP -- to shape up the transformation of mobility in the future market context.

“In light of the automotive industry, which is swiftly evolving into a mobility platform ecosystem, away from the conventional automobile sale business, the role of automotive suppliers needs to change,” said Jung Soo-kyung, executive vice president and head of the planning division, during a media conference held at its R&D headquarters in Gyeonggi Province’s Yongin, south of Seoul.

“In order to meet the heightened demands for user convenience, innovative software will be required and companies that are equipped with such advanced technologies will rise as key players in the value chain.”

He also rolled out the company’s mid- and long-term vision to evolve from a tier 1 system provider into a “tier 0.5” player with unrivaled mobility software technology, to ultimately become the top service provider in the mobility market.

Hyundai Mobis’ action plan pivots on “Transformation X-Y-Z,” a long-term, three-phase growth strategy.

During the Transformation X phase, the company will focus on expanding its business to carmakers across the world, using its core technological competences in autonomous driving, electrification and connectivity.

Examples of ongoing collaboration include the company’s strategic investment partnership with Velodyne, the world’s leading lidar company, to jointly work toward the mass production of a level 3 lidar system.

For the Transformation Y stage, the company will push its business scope into the new mobility market, embracing customer demand. As a related project, it is currently developing a level 4 autonomous robotaxi through a technical alliance with Russian IT firm Yandex. It will also seek to provide dedicated platforms to global automakers or purpose-built vehicle companies.

At the Transformation Z phase, the company is expected to have found its long-term new growth engines.

“We are looking for business cooperation in the UAM (urban air mobility) business and also reviewing other areas in which Hyundai Mobis may take part in,” Jung said.

In an effort to add full momentum to its growth blueprint, Hyundai Mobis vowed to raise direct R&D investment to 1.7 trillion won ($150.11 billion) by 2025, up 70 percent from the incumbent budget. Also, reflecting the determination to preemptively secure independent technologies, the company will allocate up to 30 percent of total R&D costs to prior art R&D, up from the current 14 percent, according to officials.

As part of its future strategy, Hyundai Mobis revealed two urban shared mobility concept cars -- the M.Vision X and M.Vision POP.

The M.Vision X, a purpose-based four-seater, provides a customized experience by using all of the windows as screens that may at any time be transformed into multifunctional displays or transparent windows.

Another notable feature of the M.Vision X is the vertical cockpit placed in the center of the interior, with each of the four sides offering a 28-inch display. By using contactless gesture recognition functions, passengers may control the driving-related functions or enjoy the entertainment content provided.

The M.Vision POP, a small car optimized for two, is defined by “phobility” -- phone and mobility. By docking the smartphone in the steering wheel space, users may operate the vehicle by manipulating the phone or through voice recognition. As each of the four wheels may be rotated up to 180 degrees, users may rely on crab driving -- where the vehicle moves from side to side -- or rotation in parking situations.

The M.Vision POP is expected to hit the market within the next five years, as several of its technologies are already in action, while the M.Vision X will undergo more tests so that it may be ready for the complete autonomous driving era of the future, officials said.

By Bae Hyun-jung (tellme@heraldcorp.com)