---
endpoint: analytics
pattern: Autos
status: done
latency_ms: 159622
conversation_id: c2173ef9-4862-4c4f-a742-dc9d62550b60
citations: 10
created: 2026-05-31 19:13:27Z
---

# Who are the key customers and suppliers of Hyundai Motor?

# Hyundai Motor (005380.KS) — Key Customers and Suppliers

Hyundai Motor's value chain spans a global supplier base of ~1,680 tier-1 partners and ~389 tier-2 partners, plus an end-market that combines retail consumers (served through an exclusive dealer network), fleet/B2B customers, and an expanding set of strategic alliance "customers" in autonomous and electric mobility. Below is the structured breakdown drawn from Hyundai's own annual report, 2025 Investor Day commentary, and Korean DART quarterly disclosures.

---

## I. Key Customers

Hyundai formally segments its stakeholders into **customers/dealers, employees, suppliers, local communities, government, and shareholders/investors** [1]. Within "customers" the operating relationships fall into three groups:

### 1. Retail Consumers (via Dealer Network)
- Primary go-to-market channel — Hyundai relies on franchised dealers as the "contact point that directly faces customers and delivers Hyundai's products/services and brand value" [1].
- Dealer exclusivity now exceeds **90% of the global network**, signaling a high-loyalty distribution structure [2].
- The customer experience is bundled with **Hyundai Capital and key financing partners**, which deliver an end-to-end ownership experience and currently cover **62% of Hyundai sales across 11 countries, targeted to rise to 80% across 15 countries by 2030** [3]. Hyundai Capital oversees **KRW 182 trillion in financial assets** [3].
- The Genesis luxury sub-brand cultivates a "VIP customer" segment via dedicated lounges, the PGA Tour partnership, and Genesis House (Korean luxury hospitality concept) [3].

### 2. Strategic / Fleet Customers (Autonomous, EV & Commercial)
Hyundai's top-of-house management explicitly frames partnerships as "new fleet customer opportunities" [4]:

| Customer / Partner | Relationship |
|---|---|
| **Waymo (Alphabet)** | Hyundai supplies the **IONIQ 5** for Waymo's 6th-generation fully autonomous fleet; vehicles produced at HMGMA (Georgia) [4]. |
| **Motional** | Strategic alliance on autonomous-driving technology [4]. |
| **General Motors (GM)** | Co-development of **five vehicle types targeting >800,000 units by 2028** across North, Central and South America; entry into the electric commercial van segment in North America [4]. |

### 3. Geographic Customer Concentration
- **North America** — six of the top-10 most fuel-efficient EVs in the US market; record IONIQ 5/6 sales drive 11.2% share of US EV market; Q2 HEV sales +42% YoY [2].
- **Europe** — Sweden recently established as a new sales entity [2].
- **Growth markets** — Middle East, South America, India [2].

---

## II. Key Suppliers

### 1. Scale of the Supply Base
- Hyundai's directly registered **tier-1 supplier count reached 1,680 in 2022** (100% of purchases) [5].
- "Significant" (key) suppliers are defined as those supplying **hydrogen fuel-cell parts, battery parts, control parts, and electrification parts** — i.e., components with low replaceability or large purchase volumes [5].
- Globalization push: **730 suppliers (341 tier-1 + 389 tier-2)** have expanded internationally with Hyundai as of end-2022 [6].

### 2. Captive / Affiliate Suppliers (Hyundai Motor Group)
Hyundai Motor's consolidated subsidiary list (filed on DART) shows the company's most strategic suppliers are intra-group affiliates:

| Affiliate Supplier | Function |
|---|---|
| **Hyundai Mobis** (012330) | Core parts, modules — global plants in China (Cangzhou, Chongqing, Beijing Mobis), India, US Alabama, Czech, Spain (Mobis Automotive Solutions) [7]. |
| **Hyundai WIA** (011210) | Engines, turbochargers, machine tools — operations in China (Shandong WAE, Jiangsu, Beijing turbochargers), India, US (Hyundai-Wia Machine America), Europe, Mexico [8]. |
| **Hyundai Steel** (004020) | Steel plates, automotive parts steel — Mexico, China (Tianjin/Jiangsu/Suzhou/Chongqing process plants), India, Brazil, Slovakia, US, Czech, Russia [8]. |
| **Hyundai Autoever** | In-vehicle software / IT systems — global subsidiaries across China, US, Europe, India, Brazil [8]. |
| **Hyundai Capital** | Auto-finance arm; effectively a sales-finance "supplier" enabling vehicle purchases [8]. |
| **Jiangsu Yueda New Energy Battery Co. Ltd** (50% JV in Mobis Parts JV) | China battery sourcing JV [7]. |
| **PT HLI Green Power** | Indonesia EV-battery JV (50%-owned subsidiary structure in Hyundai's interim filings) — supports Southeast Asia electrification [9]. |

### 3. External Raw Material & Commodity Suppliers
- Hyundai centralizes commodity procurement: it **directly purchases steel plates and precious metals at international prices and supplies them to its parts suppliers**; it also adjusts payments to suppliers based on international prices for aluminum and plastics [10].
- For ethical sourcing, Hyundai operates a **conflict minerals management process** covering tin, tantalum, tungsten, gold, and cobalt across its tier-1/tier-2 supply chain.
- Hyundai purchases parts via the **Vehicle Parts Procurement Sub-Division and Electric Vehicle Parts Procurement Sub-Division** for ICE and EV components respectively [5].

### 4. Supplier Support & Ecosystem Infrastructure
- **Win-win Growth Agreement** (Oct 2022, with MoSS and KAP Foundation): funds for parts-supplier supply-chain stabilization, smart-factory build-out, R&D co-investment.
- **Cash payment policy**: 100% cash payments to SMEs (sales <KRW 500B) and to exporters [10].
- **Funds**: Future Growth Mutual Fund (KRW 37.4B deposited), Future Growth Win-Win Fund (KRW 100B), Win-win Mold Equipment Fund (KRW 50B).

---

## III. Stakeholder Map (Hyundai's Own Framework)

| Stakeholder | Hyundai's Definition (per 2023 Annual Report) |
|---|---|
| **Customers** | "Purchase and enjoy Hyundai's products and services" [1] |
| **Dealers** | Direct customer-facing partners delivering Hyundai products and brand experiences [1] |
| **Suppliers** | "Supply parts or materials to Hyundai, enabling the company" [1] |
| Employees / Communities / Government / Shareholders | Other defined groups [1] |

---

## Key Takeaways
- **Customers** = retail consumers (via 90%+ exclusive dealer network) + strategic fleet "customers" (Waymo, Motional, GM) + Genesis VIPs.
- **Suppliers** = ~1,680 tier-1 partners, anchored by affiliate parts companies (Mobis, WIA, Steel, Autoever) and complemented by an EV-era battery JV ecosystem (Jiangsu Yueda, PT HLI Green Power); raw materials (steel, precious metals) are procured centrally by Hyundai and routed to parts suppliers.
- Hyundai Capital functions as a **dual-role partner** — supporting dealers/customers on the demand side and embedded in the Group's financial-asset base.

Note: CLSA's internal research archive carries Hyundai (005380) as a covered name in its Korea Autos universe alongside Mobis (012330), Kia (000270), Hyundai WIA (011210), Hyundai Mobis affiliate Hanon Systems (018880), Mando (204320), and tire suppliers — these are CLSA-coverage relationships rather than direct customer/supplier disclosures, so they have been excluded from the citation chain above to avoid mis-attribution.

---
**Sources**

[1] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report (period end 31-Dec-2023) — Stakeholder Engagement section (chunk 7575104867581961142)
[2] Hyundai Motor Company — Analyst/Investor Day (chunk 7408277614746143639)
[3] Hyundai Motor Co., Ltd., Investor Day, 18-September-2025 (chunk 7551899006127743627)
[4] Hyundai Motor Co., Ltd., Investor Day, 18-September-2025 — Waymo/GM/Motional partnerships (chunk 7551899004475766495)
[5] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report — Supplier classification (chunk 7575104870634168355)
[6] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report — Joint Entries into Overseas Markets (chunk 7575104868336099432)
[7] Hyundai Motor Co., Ltd. — 분기보고서 2022.03 (DART interim) — Mobis subsidiaries / Jiangsu Yueda battery JV (chunk 7575382614190794522)
[8] Hyundai Motor Co., Ltd. — 분기보고서 2020.09 (DART interim) — Hyundai WIA / Hyundai Steel / Autoever subsidiaries (chunk 7575453126526890552)
[9] Hyundai Motor Co., Ltd. — 분기보고서 2022.03 (DART interim) — PT HLI Green Power (chunk 7575382614190794522)
[10] Hyundai Motor Co., Ltd. (005380-KR) — Annual Report — Cash Payments & Raw Material Price Adjustment (chunk 7575104867552525963)

## Citations

- [1] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2023 (English) - PDF** · external
- [2] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2023 (English) - PDF** · external
- [3] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2023 (English) - PDF** · external
- [4] **Hyundai Motor Co., Ltd. (005380-KR) - Annual Report for period end 31-Dec-2023 (English) - PDF** · external
- [5] **Hyundai Motor Co., Ltd., Investor Day, 18-September-2025 10** · external
- [6] **Hyundai Motor Co., Ltd., Investor Day, 18-September-2025 10** · external
- [7] **Hyundai Motor Company - Analyst/Investor Day** · external
- [8] **Hyundai Motor Company - Analyst/Investor Day** · external
- [9] **분기보고서 (2022.03)** · external
- [10] **분기보고서 (2020.09)** · external

