The Korea Automobile Importers & Distributors Association announced on Sept. 5 that a total of 23,850 imported cars were newly registered in South Korea last month, up 7.8 percent from a year ago and up 11.3 percent from the previous month. The number for the first eight months of this year is 176,2
The Korea Chamber of Commerce and Industry has recently conducted a survey of 300 South Korean manufacturers and announced on Aug. 28 that global clients asked 14.7 percent of the manufacturers to use renewable energy in the RE100 campaign.“The survey covers 80 large and 220 medium-sized manufacture
LG Electronics plans to launch an automotive electronics talent nurturing program next year, starting with Hanyang University and Kookmin University. It aims to enhance its competitiveness by expanding the domestic automotive electronics industry ecosystem.The company is expanding investment in auto
Hyundai Motor Group has reformulated its strategy for the Chinese market. It is planning to produce electric vehicles (EVs) in China and introduce high-end models and brands such as the Genesis in the Chinese market to expand its presence.In China, Hyundai Motor Group has been caught between high-en
Starting from Aug. 16 (local time), the United States halted paying subsidies for electric vehicles (EVs) not assembled in North America. U.S. President Joe Biden signed the Inflation Reduction Act on the day. The U.S. government released a list of EVs eligible for subsidies. Only 21 models assemble
The author is an analyst of NH Investment & Securities. He can be reached at neul.ha@nhqv.com. -- Ed. With global demand for rechargeable batteries sustaining strong, Tapex’s sales of battery tape are on the rise. With the firm enjoying its best-ever quarterly sales and OPM in 2Q22, we can confirm i
BMW overtook Mercedes-Benz in the Korean imported car market in July, taking the top spot for the second month in a row.BMW sold 5,490 units in July to beat Mercedes-Benz, which posted 5,456 units, the Korea Automobile Importers & Distributors Association said on Aug. 3. BMW rose to the top spot in
The three Korean battery companies that have announced large-scale investment plans in North America are now turning their eyes to the European market. LG Energy Solution is promoting a plan to expand the production capacity of pouch-type batteries at its Wroclaw plant in Poland and establish a sepa
Northvolt has succeeded in developing a cylindrical battery with a diameter of 21 mm and a height of 70 mm and is preparing to mass-produce it. Competition in the cylindrical-type batteries is expected to intensify, as Korea's LG Energy Solution and Samsung SDI are also focusing on them. Northvo
LG Electronics' automotive electronics business is growing fast. It posted eight trillion won in order intake in the first half of this year.LG Electronics announced on July 5 that its VS Business Division has recently won orders for in-vehicle infotainment systems from a global automaker that o
LG Electronics' automotive electronics business is expected to enjoy the first surplus in 26 quarters in the second quarter of this year. Its order intake is expected to approach 70 trillion won by the end of this year. On June 28, ZKW, a subsidiary of LG Electronics, announced that it signed a
The author is an analyst of NH Investment & Securities. He can be reached at minwoo.ju@nhqv.com. -- Ed. We expect Samsung SDI to log solid 2Q22 earnings thanks to price hikes and increased production at customers. We raise our TP to reflect European plant expansion plans and productivity growth. Val
Samsung Electronics vice chairman Lee Jae-yong returned from his business trip to Europe on June 18. There, he met with BMW, one of the biggest clients for Samsung SDI. At present, EcoPro BM, which supplies cathode materials to Samsung SDI, is supposed to build a cathode material manufacturing plant
The first country Samsung Electronics vice chairman Lee Jae-yong visited on his European tour was Germany.Lee arrived at Budapest Airport in Hungary at around 5 p.m. (local time) on June 7 by a chartered plane and left for Germany immediately, without visiting a Samsung SDI battery plant in Goed, no
The Korea Automobile Importers & Distributors Association announced on June 7 that a total of 23,512 imported cars were newly registered in South Korea last month, down 2.4 percent from a year ago and up 1.9 percent from the previous month.The figure for the first five months of this year is 108,314
The author is an analyst of KB Securities. He can be reached at cm.lee@kbfg.com. -- Ed. Announcement of joint venture with Stellantis, investment in U.S. battery plant— On May 25, Samsung SDI announced plans to establish a JV with Stellantis, the world’s fourth largest automaker, and invest in a new
The three major Korean battery cell companies are accelerating the diversification of battery product lines in line with growing demand.LG Energy Solution plans to produce standard-size LFP battery cells beginning from October 2023. It showcased LFP batteries for energy storage systems (ESSs) at the
A severe shortage of automotive semiconductors and the aftermath of Russia’s invasion of Ukraine have dampened automobiles sales in Europe and the United States, but Hyundai Motor Co. and Kia Corp. have rather expanded their presence in these markets.The Korea Automobile Manufacturers Association (K
The share of prismatic batteries in the global battery market increased from 53.1 percent in the first quarter of 2021 to 63.6 percent in the first quarter of 2022, according to SNE Research on May 17.During the same period, the share of pouch type batteries decreased from 25.7 percent to 20.8 perce
Korea’s automobile exports amounted to US$4.4 billion in April, up 6.1 percent from the same period of 2021. Export growth was led by eco-friendly vehicles amid a global push for carbon neutrality. However, production decreased due to a shortage of semiconductors and disruptions in parts supply trig