Gasgoo Munich- OPmobility released its first-quarter financial results for 2026 on May 21. The company generated 2.834 billion euros in revenue, holding steady year-over-year. Joint ventures drove much of that performance, with revenue surging 18.2%.
Image source: OPmobility
Regionally, Asia delivered a solid performance in the first quarter of 2026, cementing its role as a key growth engine for the group. Revenue in the region climbed 7.3% year-over-year.
In China, revenue slipped 1.8% in the first quarter — a significant outperformance compared to the broader domestic auto market, which slumped 9.6%. The company's joint venture, YFPO, continues to strengthen ties with local clients, recently securing orders for front bumper modules from Xiaomi and Huawei.
The rest of the Asia-Pacific region showed even stronger momentum. Revenue hit 288 million euros in the first quarter, jumping 14.8% year-over-year and outpacing the region's 10.8% rise in auto production. In South Korea, OPmobility is deepening its module assembly partnerships with Hyundai and Kia. Meanwhile, new international projects — including emission reduction systems for Toyota in Thailand and fuel tank products for Renault in India — are driving continued growth in the clean energy systems business.
Across business units, the Exterior & Lighting division posted revenue of 1.268 billion euros, a 5.1% decline. The drop was attributed to fewer new project launches compared to the previous year and delays in the ramp-up of certain mass-production models.
The Complex Modules division generated 912 million euros, up 2.6%. At its Austin, Texas plant, module assembly operations for a leading North American new energy automaker saw growth in both capacity and orders. Additionally, OPmobility launched module assembly for a customer's ROBOTAXI fleet in April 2026, with production expected to ramp up throughout the year.
The Clean Energy Systems division delivered the most notable growth, with revenue climbing 5.5% to 654 million euros. This was largely driven by a significant expansion in fuel tank operations in North America. OPmobility is also diversifying its technology through battery pack business, recently securing a major hybrid vehicle battery order from a global customer in the U.S. Its hydrogen business, meanwhile, continues to cultivate the Asian market and deepen strategic partnerships with leading domestic commercial vehicle manufacturers.
Looking ahead, OPmobility plans to complete the expansion of its joint venture with Yanfeng in the second quarter of 2026, adding module assembly as well as emblem and decorative lighting solutions to its scope. The company also aims to finalize the acquisition of a controlling stake in Hyundai Mobis' lighting business by the end of the year.
OPmobility has set its core operational targets for 2026: to improve operating profit, net income attributable to shareholders, and free cash flow compared to 2025, while optimizing net debt levels.
