OPmobility and Hyundai Mobis Forge Lighting Business Partnership

French car parts supplier OPmobility plans to acquire a controlling stake in Hyundai Mobis’ lighting business. This strategic move aims to expand OPmobility's geographic footprint and customer base. The final agreement is anticipated this year as lightings gain prominence in car design and safety.

In a strategic move to enhance its market presence, French car parts supplier OPmobility announced on Tuesday an agreement with South Korean auto parts giant Hyundai Mobis. The proposed deal involves OPmobility acquiring a controlling stake in Hyundai Mobis' lighting division.

The financial specifics of the proposed acquisition remain undisclosed as OPmobility prepares for detailed negotiations, with both companies aiming to finalize the deal by the end of the year. The lighting segment is increasingly pivotal within the automotive sector, influencing both design and safety features.

Interim CEO of OPmobility, Félicie Burelle, expressed that the acquisition would accelerate the company's global expansion efforts. Adding to this, Hyundai Mobis has been exploring avenues to improve competitiveness, suggesting a potential sale of its lighting division to OPmobility. Analysts speculate this acquisition will strengthen OPmobility's reach in Asia while optimizing costs and scaling production.

(With inputs from agencies.)