This study explores a case of the top automobile module company in Korea, Hyundai Mobis, and their strategy for discovering a new growth engine through management innovation. As Hyundai-Kia Motors is increasing their market share in a global automobile market, the steady growth of Hyundai Mobis can be seen as an important aspect in the automobile industry. Hyundai Mobis, the biggest automobile module and parts supplier for Hyundai-Kia Motors, has strengthened their growth engine through the overall drive to innovation management based on stable profits. We analyze the innovation process of Hyundai Mobis in detail and scrutinize how they build up profits from a new source of growth. Based on our analysis, we propose some suggestions for sustainable growth of Hyundai Mobis.