Hyundai Mobis (KRX 012330) has rewritten the history of overseas orders for global automakers by capitalizing on the ‘electrification’ trend last year. Surpassing its annual target significantly, Hyundai Mobis has inaugurated the era of overseas orders exceeding KRW 10 trillion. The company plans to
In 2023, Hyundai Motor Company and Kia Corp. racked up more operating profit than Samsung Electronics, the country’s No. 1 company by market capitalization. The two automakers also posted a double-digit operating profit margin, higher than the company Tesla that is leading a global electric car boom
Hyundai Wia announced on Jan. 24 that it signed contracts to supply a total of 1.450 trillion won (US$1.086 billion) worth of constant velocity joints with European and North American automakers in 2023.Constant velocity joints are core parts of automobiles that transmit power generated by motors or
The Korean automobile industry including Hyundai Motor Group and the Korean battery industry have submitted a letter of opinion in order to ask the U.S. government to allow the use of key minerals for electric vehicle (EV) batteries produced in China for a limited period of time.Hyundai Motor Group
LG Innotek is speeding up its entry into the camera market for autonomous driving and the optical component market for Extended Reality (XR) by joining forces with a global lens manufacturing enterprise.LG Innotek announced on Jan. 18 that it has signed a main contract with AOE Optoelectronics, a Ta
Hyundai Motor, Tesla, BYD, and Volkswagen, the top four players in the electric vehicle (EV) industry, have embarked on a race to mark down electric vehicle prices in major markets. The price cuts are a defensive move in response to the double whammy of slowing demand for EVs and the recent suspensi
Hyundai Motor Company announced on Jan. 12 that it has unveiled the IONIQ 5 N Performance Concept model NPX1 loaded with N Performance parts for the first time at the 2024 Tokyo Auto Salon.The IONIQ 5 N Performance Concept Model NPX1 features lightweight hybrid carbon wheels, high-performance brake
LG Energy Solution is actively expanding its business in North America. Following its success in electric vehicle batteries, the company is now accelerating its Energy Storage Systems (ESS) business. The growth of ESS is closely tied to the increasing generation of renewable energy.According to the
Hyundai Motor Company today presented its vision for a hydrogen-powered, software-driven transformation beyond mobility applications at CES 2024. Under the theme ‘Ease every way,’ the company held its Media Day at the Mandalay Bay Convention Center in Las Vegas to highlight its future blueprint for
The joint battery plant of Chinese battery maker CATL and U.S. automaker Ford in the United States is not excluded from those eligible for subsidies under the local Inflation Reduction Act (IRA) of the U.S. government, a leading Chinese newspaper reported.“Ford has not found anything in the IRA or i
Three mid-sized Korean-based automakers -- GM Korea, KG Mobility, and Renault Korea Motors -- exported eight out of every 10 units they sold last year, according to industry sources. These three companies, which exited the tunnel of losses by expanding exports, plan to solidify their rebound momentu
The author is an analyst for NH Investment & Securities. He can be reached at soohong.cho@nhqv.com -- Ed.Sales growth to slow at HMG in 2024In 2024, an earnings growth slowdown is largely expected for HMG. The company has set a global wholesale target of 7.443mn units (+1.9% y-y) and domestic sales
Previously dedicated to producing pouch-type batteries, SK on has now embarked on the development of the “4680 battery,” a product Tesla has successfully made a game-changer in the electric vehicle (EV) market. This move to broaden its portfolio by adding cylindrical batteries follows its success wi
Hyundai Motor Group has achieved its highest-ever sales record in the United States, selling over 1.6 million vehicles last year. This milestone has propelled Hyundai Motor Group, the world’s third-largest automaker, into the top 5 in the U.S., surpassing Japan’s Honda. Last year, the group also ove
As electric vehicles (EVs) loaded with Chinese batteries have finally been scratched off the list of EVs that can receive tax credits in accordance with the U.S. Inflation Reduction Act (IRA), voices are growing that the Korean battery industry may enjoy reflective benefits from it. However, a large
In the domestic automotive market, a significant deceleration in the demand for electric cars is becoming apparent. Specifically, there will also be a decrease in government subsidies for electric car purchases this year. The aversion of domestic consumers towards electric cars, which are positioned
LG Display will unveil its next-generation in-vehicle display solutions at CES 2024, the world’s largest IT and consumer electronics show held in Las Vegas, Nevada, in the United States.LG Display will be exhibiting at the West Hall of the Las Vegas Convention Center (LVCC) with a booth about in-veh
The foundry business that produces batteries developed and designed by customers is rising as a hot issue in the battery industry with automakers set to launch a large number of new electric vehicle (EV) models this year.The foundry business generally belongs to the semiconductor industry. In the 19
In 2024, Hyundai Motor Group is focusing its business on transitioning to Purpose-Built Vehicles (PBVs) and Software-Defined Vehicles (SDVs).Hyundai Motor Group’s PBV strategy takes its first step with Kia unveiling its PBV lineup at the Consumer Electronics Show (CES) 2024, after a five-year hiatus
For the first time ever, China has become the world’s number one auto exporter. This is because China increased sales in Russia where carmakers of Western countries, including South Korea, have left the market and enjoyed a sharp increase in electric vehicle sales, which led to a spike in China’s ca