Global automotive companies are speeding up the process of battery internalization. Batteries account for about 30-40% of the cost of electric vehicles (EVs), making them a key component. If they are successfully developed in-house, significant price competitiveness can be achieved.According to indu
The author is an analyst for Shinhan Securities. He can be reached at ldh@sinhan.com -- Ed.Materials/industrial goods industry outlook for summer 2023We maintain our OVERWEIGHT view on materials and industrial goods industries for the summer (June-August) of 2023. We believe earnings will continue t
China’s secondary battery industry is rapidly ramping up its share of the global battery market, threatening the world’s No. 1 company LG Energy Solution. In the first four months of 2023, the share gap between LG Energy Solution and China’s CATL narrowed to the 1 percent range.According to energy m
Japan is pushing to build a global supply chain alliance to take the initiative in the secondary battery industry by 2030. It laid out an ambitious plan to become the center of secondary battery development and production in partnership with the United States, the European Union and the world’s majo
Both Hyundai Motor's and Kia Corp.’s stock prices fell in the Korean stock market. Investor sentiment about the two stocks was dampened after New York City filed a lawsuit against Hyundai and Kia for selling vehicles that are prone to theft.According to the Korea Exchange, Hyundai closed at 196,
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
According to the Mirae Asset Securities Research Center on June 4, the order backlog of three Korean battery makers -- LG Energy Solutions, SK On, and Samsung SDI -- is expected to exceed 1 trillion won (US$765 million) at the end of the third quarter of 2023. Their order backlog has been growing st
In May, domestic new car sales reached 130,300 units, up 8.8 percent from May 2022. This is a continuation of an upward trend in sales that began late last year.Five Korea-based auto companies -- Hyundai Motor, Kia Corp., GM Korea, KG Mobility, and Renault Korea Motors -- announced their May sales r
As diesel engines were first developed and distributed in Europe, Europe is known as the home of diesel. But electric vehicles (EVs) outsold diesel cars in Europe in the first four months of this year.The European Automobile Manufacturers’ Association, or ACEA, said on June 4 that 559,733 electric v
Hyundai Motor Group and Japanese automakers, including Toyota and Nissan, are making aggressive investment plans in India, the world's third-largest auto market, indicating that intense competition is looming.According to the Society of Indian Automobile Manufacturers (SIAM) and industry insider
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