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
Tesla vehicles powered by batteries from China’s CATL, the world’s No. 1 battery maker, have recently been added to the list of U.S. subsidized vehicles, allowing CATL to indirectly benefit from the U.S. Inflation Reduction Act (IRA).Earlier this month, the Tesla Model 3 Long Range AWD was added to
With the restoration of shuttle diplomacy, Korea and Japan will jointly respond to trade issues such as the U.S. Inflation Reduction Act (IRA) and the European Union’s Carbon Border Adjustment Mechanism (CBAM).Following a visit to Korea by Japanese Prime Minister Fumio Kishida, the two nations’ disc
Global automakers such as Hyundai Motor and Ford have been continuously making contracts with Korean battery makers such as LG Energy Solution, SK On, and Samsung SDI in order to establish joint ventures with them in the United States. On the other hand, concerns are being raised that the battery ma
The author is an analyst for Shinhan Securities. She can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP reported at KRW107.3bn (+161% YoY, +13% QoQ)Ecopro BM posted operating profit of KRW107.3bn (+161% YoY, 13% QoQ) on sales of KRW2tr (+204% YoY, +3% QoQ) for 1Q23, missing the consensus estimate
Shilpan Amin, who oversees General Motors (GM)’s overseas operations, visited Korea to encourage employees at GM Korea. Amin is considered GM’s No. 2. man. South Korea has a production base for the Chevrolet Trax Crossover launched in March. The model has become a hit product in both the Korean and
Hyundai Motor Group with Hyundai Motor and Kia Corp. is closing in on industry leader Toyota (including Lexus) in the United States, narrowing its monthly sales gap with the Japanese automaker to 20,000 units in recent months.Hyundai Motor (including Genesis) and Kia Corp. sold 144,874 vehicles in t
The author is an analyst of NH Investment & Securities. He can be reached at neul.ha@nhqv.com -- Ed.At Tapex, full-fledged top-line growth is anticipated following production line expansion in 2H23. We expect the firm to benefit from a blossoming of the 4680 cylindrical battery market. Tapex looks s
The author is an analyst of NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.Despite macro concerns, we expect Kia to continue delivering tangible earnings growth thanks to solid backorders, tight inventory, and improved product and brand competitiveness. Favorable factors
The author is an analyst of Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.1Q23 OP comes in at KRW3.6tr (+86% YoY, +7% QoQ)Hyundai Motor posted operating profit of KRW3.6tr (+86% YoY, +7% QoQ) on sales of KRW37.8tr (+25% YoY, -2% QoQ) in 1Q23, beating the consensus estimate by 2
Toyota will square off with Hyundai Motor Group by launching the brand’s first electric sedan, the bZ3, in partnership with the Chinese auto industry.According to the automobile industry on April 24, Toyota launched the bZ3, an electric vehicle, in China on April 18 in time for the opening of the Sh