Hyundai Motor Group came in second after Tesla in the first three quarters of this year as the number of electric vehicle (EV) registrations in the United States surged despite concerns over slowing demand for EVs.According to a report by Automotive News Nov. 12, a U.S. automotive publication, the n
LG Energy Solution has withdrawn its plans to build a joint venture battery plant in Turkiye with U.S.-based Ford and Turkiye-based Koc Group. Instead, the company will produce battery cells at an existing idle facility and supply them to Ford.LG Energy Solution announced on Nov. 11 that it is withd
According to SNE Research, an energy market research company, on Nov. 8, the number of electric vehicles registered worldwide from January to September reached 9.66 million units, a 36.4% increase compared to the same period last year.BYD, a Chinese company, maintained its top position with a 71.7%
The growth of electric vehicles (EVs) changing the paradigm of the global automobile market has come to an abrupt halt. As a result, carmakers are showing mixed moves.General Motors (GM), Ford and Volkswagen, as well as the world’s No. 1 EV maker Tesla, have postponed or canceled their investment pl
The author is an analyst for NH Investment & Securities. He can be reached at sw.kang@nhqv.com -- Ed.With the US unemployment rate rising for a second straight month, we are nearing the threshold for the Sahm Rule recession indicator (which has a 100% historical accuracy rate). Given the effects of
The number of new imported vehicle registrations, mainly new imported electric vehicle (EV) registrations, slid, but only that of new imported hybrid vehicle registrations rose in Korea in October.The Korea Automobile Importers & Distributors Association (KAIDA) said on Nov. 3 that the number of new
LG Electronics is strategically aligning its electric vehicle (EV) components business, a sector it is nurturing as a future growth engine, with a focus on premium car manufacturers like Mercedes-Benz, BMW, Audi, and more, propelling the business in a promising trajectory.According to the Financial
The operating profit of Hyundai Motor Group’s 11 listed companies in the third quarter of this year increased by more than double compared to the same period last year.According to the Financial Supervisory Service’s electronic disclosure system on Nov. 1, the 11 listed companies within Hyundai Moto
Despite being the hot topic in the domestic market in the first half of this year, the shares of POSCO Group’s associated companies are currently experiencing a simultaneous downturn. Along with secondary battery-related companies such as EcoPro, share prices have undergone a correction, resulting i
According to industry sources on Oct. 30, the POSCO Labor Union has taken a step closer to securing the right to strike after receiving 77.79% of the votes in favor during a dispute action vote conducted via mobile on Oct. 28 and 29.Of the total 11,145 members, 10,756, which is 96.51%, participated
Hanwha Ocean has turned a profit. This marks the first time it has emerged from a deficit in 12 quarters since the fourth quarter of 2020.On Oct. 25, Hanwha Ocean announced that it recorded 1.92 trillion won (US$1.42 billion) in revenue, 74.1 billion won in operating profit, and 231.6 billion won in
Samsung SDI and Hyundai Motor Group have entered into an agreement for the supply of electric vehicle batteries for the first time. Following their collaboration in automotive electrical and electronics parts, including semiconductors, this expansion into the battery sector marks the broadening of t
Hyundai Motor and Kia Motors have successfully settled their wage and collective bargaining agreements (CBA) without labor disputes for the second consecutive year, but the aftermath poses significant challenges. The labor unions of Hyundai and Kia have managed to secure the highest-ever wage increa
Japan’s Mitsubishi Motors has decided to exit the Chinese market as local Chinese car brands dominate the scene, tarnishing the reputation of automobile powerhouses like Germany and Japan.According to a report by Japan’s NHK Broadcasting on Oct. 19, sources have indicated that Mitsubishi Motors has
The author is an analyst for NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.KT has unveiled its dividend policy for the next three years. The announcement should put to rest recent fears of dividend reduction. The firm’s commitment to keeping DPS at the 2022 level evidenc
The U.S. Inflation Reduction Act (IRA) has been found to significantly impact the sales volumes of automobile manufacturers in the global electric vehicle (EV) market, excluding China.According to a study by the energy market research firm SNE Research, the number of EVs registered in regions outsid
Korean battery material, parts, and equipment companies preparing to enter the North American market are turning their eyes to Canada instead of the United States. This is because Korean battery makers such as LG Energy Solution, Samsung SDI, and SK on have proactively announced large-scale investme
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.International passenger traffic fell 11% m-m in September amid the ending of peak season effects. Cargo volume rose 4% m-m on higher demand for air freight. Intensifying fare competition (especially
The number of electric vehicle recalls surged more than 14 times in the last three years, according to data from. The most recalled manufacturer was BMW (three models), while the most recalled model was Tesla’s Model 3.According to data on electric vehicle recalls which the Korea Transportation Safe
Over the past five years, the automotive company that received the highest amount of fines and penalties in South Korea was Mercedes-Benz Korea, the leading player in the imported car industry. The company had a cumulative amount of approximately 28 billion won.According to data obtained by Park San