POSCO FUTURE M and General Motors (GM) are set to expand their joint investment in North American battery materials and strengthen their supply chain collaboration. Both companies announced on June 2 that they would undertake a second phase of investment to increase the production capacity of Ultium
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Key takeaways from Daegu/Ulsan electrification factory tourThe electrification business has long since emerged as a core business of Hyundai Mobis, with sales rising from KRW1.2tr in 2017 to KRW9.7tr in
Americans prefer the Samsung brand over Apple, according to a survey. Samsung ranked 7th among the brands loved by Americans, while Apple came in at 10th.On May 31, CNBC cited the results of the “2023 Axios Harris Poll” on the top 100 brands loved by Americans.In the survey released by Axios on May
In May, the Korean automobile industry posted a double-digit year-on-year sales increase, marking the ninth consecutive month of export growth.The five major Korea-based automakers (Hyundai Motor, Kia Motors, KG Mobility, GM Korea, and Renault Korea Motors) sold a total of 718,608 units, including t
Hyundai Mobis began construction of a new EV dedicated battery system plant in Indonesia, which it plans to have completed by the first half of next year. Hyundai Mobis intends to set Indonesia as a beachhead as the country is emerging as the heart of the ASEAN market, and catapult to being a leader
Chinese electric vehicle batteries have begun invading Korea. With the Tesla Model Y and BYD’s electric truck T4K, Chinese batteries are making a foray into the Korean market. KG Mobility and Hyundai Motor are also expected to load Chinese batteries into their upcoming electric vehicles this year.Ac
Hyundai Motor Company has begun revising its bus production strategy on the whole. Instead of reducing production of regular buses, the Korean automaker will focus on producing electric, hydrogen, and ultra-low-floor buses. The move was made in response to a sharp increase of Chinese bus sales in Ko
As competition intensifies in the electric vehicle (EV) market, a “supply chain war” over key battery minerals is heating up. Not only battery cell and material companies that directly need minerals, but also automakers and energy companies have jumped into the mineral acquisition battle.General Mot
Hyundai Motor’s labor union plans to demand a record-high wage increase in this year’s labor negotiations as global carmakers are in a race to invest in future vehicles.According to industry sources on May 25, Hyundai Motor’s labor union is preparing this year’s wage and collective bargaining demand
Recently, the secondary battery industry and the automotive industry have been competing for leadership in battery packs. While battery companies prefer turnkey supply from battery cells to modules and packs, the automotive industry has a position that it cannot lose out on the lead in manufacturing
The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.Although macroeconomic uncertainties linger, global auto sales should come in healthy, considering the positives in play. Also, while there are concerns over peak-out in the process of production
The Korean government and the private sector will invest more than 14.3 trillion won (US$10.9 billion) in the Korean auto parts industry. The government, automakers, and related organizations will provide their maximum support to foster Korean experts in core technologies for future vehicles, expand
The Russian government has reportedly rejected Hyundai Motor's application to sell off its Russian plant. As Toyota, Nissan, Renault, and Volkswagen have already said their goodbyes and left Russia, Hyundai has become the only global carmaker remaining there. With the possibility of a prolonged
The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Operating margin to improve from 2.5% in 1Q to 7.6% in 4QNexen Tire recorded sluggish earnings in 1Q23 with sales of KRW639.6bn (+20% YoY, -9% QoQ) and operating profit of KRW16.2bn (positive swing YoY,
Hyundai and Kia have agreed to compensate victims in a class-action lawsuit against the two Korean automakers over vehicle thefts in the United States.Hyundai and Kia announced on Nov. 18 (local time) that they reached an agreement to settle the class action lawsuit and expected to pay a total of 20
Chinese battery companies blocked from entering the United States by the Inflation Reduction Act (IRA) are quickly turning to the European Union (EU). They are focusing on aggressive investment and price competitiveness.The Korea International Trade Association (KITA) released a report under the tit
Stellantis and LG Energy Solution are planning to establish a joint venture for electric vehicle batteries in Ontario, Canada, but they are at odds with the Canadian government over financial support, according to foreign media reports.According to Bloomberg on May 13 (local time), Stellantis claime
Hyundai Motor’s Indonesian plant has broken through the milestone of production of 100,000 units in one year, a first for the plant. This gives a green light to Hyundai’s plan to increase its share in the local and ASEAN markets by using the plant as a bridgehead.The cumulative production volume of
The author is an analyst for Shinhan Securities. She can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP meets consensus at KRW60.2bn (+98% YoY, -42% QoQ)Hanon Systems posted operating profit of KRW60.2bn (+98% YoY, -42% QoQ) on sales of KRW2.3tr (+18% YoY, -0% QoQ) for 1Q23, meeting the market con
Hyundai Motor will invest up to 200 billion rupees (3.23 trillion won or US$2.43 billion) in electric vehicles in India over the next seven to ten years, according to a report on May 10. The amount is a fivefold increase from the 40 billion won (US$64.6 billion) over six years announced earlier this