After years of double-digit growth, the global electric vehicle market is entering a chasm, considered to be a slowdown in demand just before mass adoption. Global automakers that have been aggressively investing to expand their electric vehicle lineups are scrambling for survival by making use of a
SK on, a leading global electric vehicle battery manufacturer, announced today it signed a memorandum of understanding (MoU) with the Italian luxury sports carmaker Ferrari to reinforce partnership and lead innovation in cell technology.SK on Chief Executive Officer Lee Seok-hee, Ferrari Chief Execu
General Motors (GM) is considering investing to build a plug-in hybrid electric vehicle (PHEV) production facility at its Bupyeong plant in Incheon, Korea.GM is considering investing in the construction of a PHEV facility at its Bupyeong plant, according to sources in the automobile industry on Feb.
China is dominating the global battery market backed by overwhelming growth in its home market. Stopping China’s rise in the global battery industry has become a big challenge for Korea, which ranks second in the market behind Chinese companies as well as the United States and Europe.Six of the worl
Despite a slowdown in the growth of electric vehicles, it was revealed that the usage of electric vehicle batteries increased by 38.6 percent last year compared a year earlier. Chinese companies CATL and BYD jointly secured the top two positions in the global market. The market share of South Korea’
U.S. General Motors (GM) Chairwoman Mary Barra will visit South Korea to meet with battery partners -- LG Energy Solutions and Samsung SDI -- on Feb. 7. Barra has made several unofficial visits to South Korea since taking office as chairwoman in 2016, but this is the first time she has officially co
LG U+ announced on Dec. 11 that it has signed a memorandum of understanding (MOU) with Korea Toyota Motor Corporation to develop membership services and install chargers for expanding the domestic electric vehicle (EV) charging infrastructure.As part of this agreement, both companies will develop ne
Hyundai Motor Group, which controls both Hyundai Motor and Kia Corp., ranked seventh globally, posting sales of 378,462 electric vehicles (EVs), battery electric vehicles (BEVs), plug-in hybrids (PHEVs) and hydrogen fuel cell cars sold worldwide from January to September this year. Including sales o
Hyundai Motor Group’s three car brands -- Hyundai, Kia and Genesis -- sold 173,428 units in the U.K. passenger car market in the first 10 months of this year, up 8.7 percent year on year, according to the Society of Motor Manufacturers and Traders (SMMT) on Nov. 20. Their market share stood at 10.8
The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.In 2024, global automotive demand should continue to recover, but growth momentum is set to slow y-y. Although demand has yet to return to pre-pandemic levels (95mn units), a significant portion
The author is an analyst for NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Affected by delays in EV and battery production amid slowing downstream demand, there are short-term uncertainties in play toward SKIET’s plans for operating new plants in Poland and the US. Accord
Chinese companies’ share in the European electric vehicle (EV) battery market is sharply rising. Concurrently, Korean battery companies, which have been strong players in the European market, have seen their share on the decline, losing ground to their Chinese competitors.According to market researc
The total amount of battery energy in electric vehicles registered in 80 countries around the world in the first half of this year was 304.3 gigawatt hours (GWh), up 50.1 percent year on year, according to SNE Research on Aug. 3. The electric vehicles included battery electric vehicles (BEVs), plug-
Korean battery makers are changing their production targets even as they are building plants. This is in response to the rapidly growing demand for batteries. Spurred on by support from North American countries, battery makers are increasingly changing production plans for plants that are barely com
In the U.S., the world's largest electric vehicle market, Hyundai and Kia have successfully made it into the top 10 manufacturers by sales volume for the first half of this year (January-June), but they face intense competition from traditional German powerhouses, namely BMW, Mercedes-Benz, and
Last month, while imported car sales decreased compared to the previous year, the sales volume of high-end models priced over 100 million won (US$77,892) increased. This indicates an ongoing preference for luxury vehicles among high-income earners, who continue to accelerate their efforts in the Kor
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Earnings momentum intact in 2Q23Kia’s global wholesales came in at 528,000 units (+11% YoY) in April-May. The growth was driven by robust overseas sales of 428,000 units (+13% YoY), vs. domestic sales of
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.We boost our 2026 capacity estimate for Samsung SDI by 15% to reflect a 33GWh (46pi 16GWh + prismatic 17GWh) JV with GM. We expect annual OP to hit W6tn (AMPC W1.8tn) in 2026.Outward expansion unfol
Samsung Display will supply state-of-the-art organic light emitting diode (OLED) panels to supercar brand Ferrari.Samsung Display announced that it signed a memorandum of understanding (MOU) with Ferrari at the Asan Campus on April 11 to develop display solutions to be loaded into Ferrari’s next-gen
At the beginning of 2023, the three major Korean battery makers have been cruising with high growth rates compared to the previous year. However, as Chinese companies showed explosive growth, LG Energy Solution was pushed down to third place.According to SNE Research on March 30, total batteries in