Samsung SDI will invest 2.65 trillion won (US$2.00 billion) in a second electric vehicle battery factory to be built in the United States with U.S. automaker Stellantis.Samsung SDI announced in a board meeting on Sept. 27 that it will invest 2.6556 trillion won in the StarPlus Energy Gigafactory 2,
Speculation is mounting that Hyundai Motor may follow the footsteps of Nissan, Renault, and Mazda, which withdrew from Russia under a “1 euro sale contract” that included a repurchase condition (buyback clause). Following the end of the war in Ukraine, the Russian government has suggested a buyback
Ford has decided to suspend the construction of an automotive battery plant in Michigan with Chinese battery maker CATL. Strong opposition from U.S. lawmakers to Chinese companies building battery production facilities in the United States to circumvent the U.S. Inflation Reduction Act (IRA) is the
The author is an analyst for Shinhan Securities. He can be reached at hyon@shinhan.com -- Ed.3Q23 operating profit to miss consensus at KRW13.2bn (-28% QoQ)Doosan Tesna is expected to post operating profit of KRW13.2bn (-27.5% QoQ) on sales of KRW90.3bn (+1.5% QoQ) for 3Q23, falling short of the mar
Concerns are growing among domestic businesses as former U.S. President Donald Trump has pledged to nullify President Joe Biden’s electric vehicle transition policy if elected in the 2024 presidential election.Former U.S. President Donald Trump recently criticized President Biden’s electric vehicle
Global automakers are fiercely competing to develop platforms that serve as the skeleton for electric vehicles (EVs). Platform technology, alongside securing batteries, is seen as a key competitive edge in leading the era of EVs.According to industry sources on Sept. 19, Volkswagen Group is in the p
The European Union’s (EU) criticism of China’s electric car subsidies has led to speculation that the friction between the EU and China might result in reinforced protectionist measures, potentially disrupting the product and raw material supply chains.The tension between the EU and China commenced
Korea’s auto exports set a new monthly record in August, marking the 14th consecutive month of double-digit growth since July last year, bringing this year’s cumulative auto exports to US$46.45 billion at the end of August.According to the Ministry of Trade, Industry and Energy (MOTIE) on Sept. 19,
The Hyundai Motor Labor Union announced on Sept. 18 that it held a vote for and against this year’s wage and collective bargaining agreement for all 44,643 members. In the vote, 22,703, or 58.81 percent, of the 38,603 voters voted in favor of accepting the agreement.This year’s agreement includes a
While the U.S. protects its domestic industries through the Inflation Reduction Act (IRA) and the European Union (EU) is investigating potential market distortions caused by subsidies provided to Chinese electric vehicle (EV) companies, the South Korean government is seemingly more complacent, opera
Hyundai Motor’s labor union announced a four-hour partial strike for two days starting Sept. 13 after hitting a snag in their wage and collective bargaining negotiations with the management. If the labor union goes on strike, it will mark the first strike in five years since 2018.According to source
A significant trend among global automakers is the incorporation of China-made lithium iron phosphate (LFP) batteries, known for their affordability. With the growing market share of LFP batteries, concerns are rising about a potential crisis for the “top 3 South Korean battery manufacturers.” Howev
Hyundai Motor Company is leading the electrification trend in the automotive industry in Indonesia, the world’s fourth-most-populous country and the world’s top nickel producer.According to the Association of Indonesia Automotive Industries (GAIKINDO) on Friday, Hyundai sold 3,913 electric vehicles
At IAA Mobility 2023 Hyundai Mobis (KRX: 012330) has announced its European market expansion strategy ‘MOBIS MOBILITY MOVE 2.0’ which showcased its commitment to electric mobility. Hyundai Mobis is confident it can rapidly expand in Europe where electric vehicle technology is already making an impac
Chinese lithium iron phosphate (LFP) batteries will be brought to Korea in large numbers. As electric buses and electric scooters that use LFP batteries have penetrated the Korean market, major automakers are also expanding the volume of Chinese-made LFP batteries for electric vehicles. The problem
Hyundai Motor Group will transfer all of its hydrogen business capabilities to one subsidiary. Hyundai Mobis’ hydrogen fuel cell production management division will be transferred to Hyundai Motor to complete the Korean automotive group’s value chain of hydrogen mobility production and boost its eff
Hyundai Motor’s losses in Russia are snowballing as the Ukraine-Russia war has been dragging on, paralyzing the Korean automakers’ factories. In recent years, the Russian government has been nationalizing assets of foreign companies that left the country, raising the risk that Hyundai Motor will be
Amid the threat of a full-blown strike for the first time in five years, Hyundai Motor Company is facing pressure from labor unions even at its U.S. facilities where no labor union has been established. In South Korea, the Hyundai labor union has been ramping up pressure after securing the right to
On Aug. 27, Nikkei, referencing data from MarkLines, a global auto market research firm, and various company reports, revealed that Chinese EV manufacturer BYD has entered the top 10 in global new car sales for the first half of the year (January-June).BYD’s sales stood at 1.25 million units, a 96%
Hyundai Mobis (KRX: 012330) is poised to outline its electrification-centric vision at the apex of the European mobility show. The company is positioning itself to appeal to Europe's leading automotive companies, renowned for its rigorous standards in technical excellence and dependability. The stra