The implementation of the Inflation Reduction Act (IRA) has been fueling market competition between Korea and Japan over the U.S. electric vehicle battery market.Japan's Panasonic is considering investing around US$5 billion (about 6.5 trillion won) to build a third electric vehicle battery plan
ZKW, a subsidiary of LG Electronics in the automotive lighting business, was listed as the company that applied for the third-most patents in Europe last year among Austrian companies.According to ZKW on April 14, ZKW accounted for 61 (close to 30 percent) of 224 patents filed by Austrian companies
Porsche sold 2,966 cars in South Korea in the first quarter of this year, the largest Q1 sales volume since the launch of Porsche Korea in 2014. In February, the sales volume was 1,123, fifth behind those of BMW, Mercedes-Benz, Audi, and Lexus. Porsche Korea’s sales volume has more than quadrupled i
Mercedes-Benz overtook BMW in March, reclaiming the top spot in the Korean import car market.The number of newly registered imported cars reached 23,840 in Korea in March. This represented a decrease of 4.3 percent compared to the same period of 2022, according to the Korea Automobile Importers & Di
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com -- Ed.Samsung SDI is anticipated to diversify its customer portfolio, which is currently centered on European automakers, through the securing of new US partners this year. AMPC benefits are expected from
Rolls-Royce Motor Cars, which achieved the highest sales performances since its foundation in 2022, will launch its first pure electric vehicle, the Spectre, in Korea in June of this year. This will be the first launch in Asia. The luxury car brand achieved strong business results based on the Asia-
Hankook Tire announced that it will continue to be the exclusive tire supplier of high-performance tires to BMW Driving Center operated by German premium car maker BMW Group Korea, for the ninth consecutive year.Since the opening of the BMW Driving Center in 2014, Hankook Tire has established itself
EV manufacturers are entering the EV battery manufacturing industry one after another. South Korean EV battery manufacturers are not regarding this as a threat yet.This is because it takes years to reach yield stabilization after business commencement and a large number of patents are protecting the
Hankook Tire UK has renewed its partnership as official tire partner for a fourth year with Supercar Fest in 2023. This supercar themed festival continues to grow as one of the leading dynamic supercar events in the UK, allowing unrivalled access to the best modern day and classic supercars ever bui
Samsung SDI’s Hungarian battery plant will receive 89.6 million euros in support funds from the European Union (EU). The funds will be given for the Korean battery maker’s completion of a local battery plant which revved up the local economy and locally created decent jobs. Analysts say that Samsung
The Korea Fair Trade Commission announced on Feb. 9 that it would impose a fine of 42.3 billion won on Mercedes-Benz, BMW and Audi with regard to software tampering related to diesel exhaust fluid (DEF). The fines on them are 20.7 billion won, 15.7 billion won and 6 billion won, respectively.The com
The combined market share of Hyundai Motor Co. and Kia Corp. in the European vehicle market stood at 9.4 percent in 2022, up 0.75 percentage point from the previous year, said the European Automobile Manufacturers Association (ACEA) on Feb. 6. This was the largest increase among global automakers.Ot
At the end of last year, Samsung Electronics hired Benny Katibian, who served as vice president of Qualcomm’s engineering division, as a senior vice president of its U.S. corporation. Katibian took office as the head of the Samsung Austin Research Center (SARC) and Advanced Computing Lab (ACL), the
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed.EcoPro BM is forecast to report 2023 sales of W9.9tn (+86% y-y) and OP of W664.9bn (OPM of 6.7%).Negative factors in 2023 to be offset by positivesWe maintain a Buy rating and TP of W150,000 on Eco
CarIsYou announced on Jan. 19 that 290,034 imported cars were registered in South Korea last year, including 205,804 German cars.The German cars include 81,016 sold by Mercedes-Benz, followed by BMW (78,554), Audi (21,419), Volkswagen (15,792) and Porsche (9,021).Sedans accounted for more than half
Hyundai Motor Co. and Kia Corp. (Hyundai Motor Group) logged a 9.4 percent share of the European car market in 2022, the first time that the two Korean carmakers' combined market share exceeded 9 percent in Europe.According to the European Automobile Manufacturers’ Association (ACEA), Hyundai Mo
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed.EcoPro BM is forecast to log 2023 sales of W9.6tn (+79% y-y) and OP of W707.4bn (OPM of 7.4%).Negative factors to be offset by positives in 2023We lower our TP on EcoPro BM by 11% to W150,000, as w
Samsung SDI is reportedly considering building an electric vehicle (EV) battery joint venture with BMW, its largest customer, in Hungary. The report came about one month after Samsung Electronics chairman Lee Jae-yong discussed cooperation with BMW chairman Oliver Zipse in December 2022.Samsung SDI
The author is an analyst of KB Securities. He can be reached at cm.lee@kbfg.com. -- Ed. Maintain BUY, target price of KRW950,000 We maintain BUY and TP of KRW950,000 on Samsung SDI. Our DCF-based TP assumes 8.81% WACC (9.08% COE, 4.30% after-tax COD, 0.99 60m adj. beta), represents 30.2x implied 12m
The Korea Automobile Importers & Distributors Association announced on Jan. 4 that the domestic sales volume of Hyundai Motor Co., Kia, GM Korea, Renault Korea and SsangYong Motor totaled 1,388,476 in 2022, down 3.1 percent from a year ago.Hyundai’s fell 5.2 percent to 688,884 and Kia’s rose 1.1 per