The author is an analyst for Shinhan Securities. He can be reached at yjjung86@shinhan.com -- Ed.Good times for allAuto sales volume data have come in at strong levels as expected, pointing to record-high earnings for automakers in 2Q23. Global wholesale volume reached 1.06mn vehicles (+9% YoY, +4%
As Spain has emerged as a new electric vehicle powerhouse in Europe, Korean battery companies are also eyeing the country with more interest than ever.The share of Spain in electric vehicle production in Europe expanded from 0.6 percent in 2019 to 12 percent in 2022, according to KOTRA on July 10. F
Korea and China are set to compete in the battery industry in Southeast Asia with high growth potential. Korean companies are investing heavily in Indonesia, Thailand, Malaysia, and Vietnam, the four largest electric vehicle markets in Southeast Asia. China, which has been blocked from entering Nort
As Korean battery companies such as LG Energy Solution, Samsung SDI, and SK on head to the United States, they are faced with an unexpected problem –- the emergence of a local labor movement. They are pressuring Korean battery companies over wage negotiations. If the situation becomes prolonged, it
Chairman Koo Kwang-mo of LG Group, Vice Chairman Kim Dong-kwan of Hanwha, and Chairman Koo Ja-yeon of LS are among the conglomerate heads accompanying President Yoon Suk-yeol on his visit to Europe. Chairman Lee Jae-yong of Samsung Electronics, Chairman Chey Tae-won of SK Group, and Chairman Chung E
NextStar Energy, a joint venture between LG Energy Solution and American-European automaker Stellantis, has finally agreed with the Canadian Government on a battery subsidy of 15 trillion won. The two companies have been at odds over the battery subsidy issue, going as far as threatening to suspend
The number of luxury cars costing more than 300 million won registered in Korea has crossed the 6,000 mark. Foreign luxury car brands such as Rolls-Royce, Ferrari and Bentley are eyeing the growing Korean luxury car market.Korea had a total of 6,299 luxury vehicles that cost more than 300 million wo
The five major Korea-based automakers (Hyundai Motor, Kia Corp., KG Mobility, Renault Korea Motors, and GM Korea) enjoyed increases in their sales volume in June, thanks to a peak season.According to industry sources on July 3, the five carmakers sold a total of 133,803 units in the Korean market in
The United Kingdom’s advertising regulator has banned an ad about Hyundai’s IONIQ 5, saying the car’s advertising copy is misleading consumers.According to the automaker on June 29, the Advertising Standards Authority (ASA) in the United Kingdom banned the ad on June 28 (local time), saying that Hyu
Renault Korea, KG Mobility (formerly SsangYong Motors), and GM Korea, three major domestic mid-tier automobile manufacturers, have begun preparations to enter the electric vehicle market. They are preparing for the launch of electric car models and the expansion of some production facilities. Howeve
Hyundai Mobis is set to launch a rollable display for vehicles within three years, a world-first technology developed by the company.Choi Jin-yeong, the head of Hyundai Mobis Infotainment Display Center, met with reporters after the 2023 Media Tech Day held at the R&D Center in Yongin, Gyeonggi Prov
Korean secondary batteries for electric vehicles are expanding overseas with flying colors. However, Korea’s trade balance in secondary batteries has turned into a deficit due to the increasing number of reverse imports of Korean secondary batteries from overseas.On June 22, the Korea International
The author is an analyst for Shinhan Securities. He can be reached at snowKH@shinhan.com -- Ed.Hidden gem among auto electronics parts & smartphone module suppliersAmosense, an IT parts maker trading on the KOSDAQ since 2021, produces shielding sheets, wireless charging modules, and RF modules for a
Korea Investment Management (KIM) has decided to launch the Korean securities industry’s first Japan-themed exchange traded fund (ETF) as the Japanese stock market continues to renew its zenith.KIM will launch Korea’s first ETF that focuses on specific industries in Japan in the second half of this
The Korean business community criticized the Supreme Court’s ruling that labor union members who engage in illegal labor disputes must be held individually liable for damages, calling it a “ruling that undermines the fundamentals of the rule of law at industrial sites.”“The Supreme Court’s ruling cr
The number of vehicles recalled in Korea since 2017 crossed three million in 2022. By mid-June of this year, 700,000 vehicles were already recalled. Some of these recalls were voluntarily carried out by car manufacturers while others were ordered by the government through the Automobile Management A
It has been forecast that Tesla’s North American Charging Standard (NACS) will become a standard on charging electric vehicles (EVs) in the United States. U.S. automakers such as GM and Ford have announced that they will adopt Tesla’s charging standard for their new EV models.According to industry s
Ascend Elements, a U.S. waste battery recycling company that received investment from SK ecoplant, has begun to dominate supply chains in the North American battery market by signing a mega-supply contract with a U.S. automaker.Ascend Elements announced on June 7 (local time) that it has signed a co
Some media outlets reported that the U.S. government has approved Gotion High Tech to build a cathode and anode plant to supply lithium iron phosphate (LFP) batteries in the United States. Gotion is one of China’s top four battery makers.On June 14, Fox News reported that the Committee on Foreign In
About 100,000 2023 Kia Sportage vehicles have been recalled in the United States for a brake-related defect, Fox Business and other local media outlets reported on June 12.According to the U.S. National Highway Traffic Safety Administration (NHTSA), 98,944 units of the Kia model are affected by a mi