Hyundai Mobis, one of the world’s largest suppliers of automotive parts and components, held an investment presentation for startups in North America, seeking to secure a future mobility technology alliance.

The company held its fourth annual Mobis Mobility Day this week in Detroit, moving it from its previous site in California’s Silicon Valley to a city it referred to in a news release as the home of the automotive industry.

Hyundai Mobis holds the event each year to introduce its business vision and investment status to global startups, academia and investors.

The company said because of its auto manufacturing infrastructure, Detroit is emerging as a hub for a large number of mobility startups working with AI and software, as well as production and quality control capabilities. In addition, it said, its recent global orders have been concentrated on North American customers.

The event included presentations by some of the 200 local startups in attendance and staff from Mobis Technical Center of America, as well as discussions on mobility trends, particularly in the fields of robotics and cleantech. Hyundai Mobis also introduced its latest innovations in software-defined vehicles, electrification and automotive electronics under the theme of “Mobis in Global”.

“It is becoming important to discover outstanding global startups and make strategic investments to secure innovative technologies that will lead the paradigm shift in mobility,” said Mitchell Yun, investment manager of event organizer Mobis Ventures Silicon Valley. “This year, we will expand our support for business proofs of concept, including technology and business feasibility reviews, and strengthen our collaboration to preempt the market.”

Hyundai Mobis launched Mobis Ventures Silicon Valley, its open innovation base, in 2018, and has invested more 200 billion won ($140 million) in startups since then. In 2024 the company made a new investment of $15 million in U.S. semiconductor company Elevation Microsystems, and is currently working with partners on augmented reality-based head-up display technology, lidar for autonomous driving and other core technology fields for future mobility.