Hyundai Mobis sells lighting business to OPmobility for $441 million
Hyundai Mobis is selling its automotive lighting business to France's OPmobility for $441 million to fund its shift toward future mobility.
Hyundai Mobis is selling its automotive lighting business to OPmobility for approximately $441 million. The deal, following eight months of negotiations, is a key step in the South Korean supplier's strategy to exit legacy internal combustion engine components.
OPmobility, formerly Compagnie Plastic Omnium, agreed to pay KRW 600 billion for a 100% stake. The French auto parts giant stated the acquisition will scale up its lighting business and strengthen its presence in Asia, North America, and Europe. Hyundai Mobis, the main components unit of Hyundai Motor Group, said the sale marks a significant milestone in its transformation into a future mobility solutions provider. The company is also putting its bumper business on the market as part of the same strategic shift.
This transaction is a key component of Hyundai Mobis' 'selection and concentration' strategy. The company plans to divest its non-core lamp business and concentrate investment on automotive semiconductors, robotics, and software-defined vehicles. A company official called it an important turning point for strengthening the business structure for the future mobility transition, which will ultimately contribute to enhancing corporate and shareholder value. Hyundai Mobis aims to expand non-captive sales to 40% of its total revenue by 2033.
Business scope and operational details
The transaction involves the full transfer of Hyundai Mobis' lighting business through a newly established entity. Hyundai Mobis signed a definitive agreement to sell the business, covering design, development, testing, production, and sales of passenger vehicle headlamps, rear lamps, and exterior body lamps.
The spin-off is scheduled to take effect on April 1, 2027. The new entity will be named 'Hyundai Mobis Lamp Co., Ltd.', and Hyundai Mobis will then sell its entire stake to OPmobility. The after-sales parts supply, distribution, and management business for Hyundai and Kia vehicles is excluded from the division. Lamp businesses held by overseas subsidiaries are also excluded and will be sold through separate procedures under local laws. The lighting division operates five manufacturing plants across South Korea, China, Mexico, and the Czech Republic.
Financials and market impact
The lighting business is a substantial operation. It generated KRW 2.5 trillion in revenue in 2025. The division-target business segment reported revenue of approximately 1.022 trillion won last year.
The financial estimates for the new entity to be spun off are as follows:
| Item | Estimated Value (won) | Approx. USD Equivalent |
|---|---|---|
| Assets | 541.5 billion | $398.5 million |
| Liabilities | 165.5 billion | $121.8 million |
| Equity | 376 billion | $276.7 million |
OPmobility’s strategic gains
For OPmobility, the acquisition represents a major expansion. The company, which operates 150 production sites across 28 countries and posted annual revenue of 11.65 billion euros in 2024, will expand its technology base, customer reach, and global operational footprint. OPmobility's CEO Félicie Burelle stated the combination will create a leading player in the automotive lighting market and deepen its partnership with Hyundai Motor and Kia.
Appraisal rights and shareholder protections
Shareholders of Hyundai Mobis have specific appraisal rights under this deal. The exercise price is set at 408,394 won per share, calculated by averaging weighted stock prices over recent periods. This price was 11.3% higher than the closing price on the day before the board meeting.
A critical threshold exists. If the total appraisal rights exercise amount exceeds 230 billion won, the board may suspend or withdraw the division by resolution. This 230 billion won limit converts to 563,182 shares, equivalent to 0.63% of outstanding shares. The threshold represents 55% of Hyundai Mobis' standalone cash and cash equivalents as of the end of June. Exceeding the limit does not automatically trigger a withdrawal; the decision rests with the board. Eligible shareholders must meet a series of conditions, including purchasing shares before the disclosure and continuing to hold them through the exercise period.
The market reacted positively to the announcement. On the disclosure day, shares closed at 384,500 won in after-market trading. The following day, the stock surpassed 393,000 won in pre-market trading, up about 7% from the day before the board meeting. The deal requires shareholder approval and regulatory clearance and is expected to be completed in the second half of 2027. The spin-off of Hyundai Mobis' lighting business is scheduled to take effect on April 1, 2027, after which OPmobility will assume full control of the entity.
