Streetbeat News

HYMTF

Hyundai Motor

http://www.hyundai.com/

Industry

Automobile Manufacturing

Open

53.00

Mkt cap

35B

Volume

600

High

53.00

P/E Ratio

2.95

52-wk high

69.27

Low

52.91

Div yield

0.09

52-wk low

39.80

UAW workers at Volvo Group-owned Mack Trucks have joined the strike against General Motors, Ford, and Stellantis, which has already cost GM $200 million in Q3. The strike has impacted the production of small and midsize pickups, as well as SUVs. However, GM has agreed to include battery cell workers under the company’s national agreement, which could put pressure on Ford and Stellantis. Meanwhile, Worksport Ltd has signed a long-term supply agreement for its hard-folding and soft-folding covers, potentially bringing in $16 million in annual revenue. Hyundai Motor Company will be getting a customized version of Worksport's solar-powered accessories.

Portfolio Pulse from Upwallstreet

October 09, 2023 | 2:40 pm

Hyundai Motor Co., Ltd. (OTC:HYMTF) has announced plans to adopt Tesla, Inc.'s (NASDAQ:TSLA) electric vehicle charging technology in the U.S. and Canada. The collaboration will commence in Q4 2024 for the U.S. and H1 2025 for Canada, allowing Hyundai EVs with North American Charging Standard (NACS) ports access to over 12,000 Tesla Superchargers. Hyundai's E-GMP vehicles, including IONIQ 5 and IONIQ 6, and the forthcoming IONIQ 7, will benefit from this. Hyundai recently invested $400 million for a 5% stake in Korea Zinc to secure a stable supply of essential materials for EV battery production.

Portfolio Pulse from Nabaparna Bhattacharya

October 05, 2023 | 3:38 pm

Hyundai Motor America reported a 16% increase in total September sales to 68,961 units, and a 9% increase in Q3 total sales. The company also reported a 13% increase in year-to-date total sales. The sales were led by record numbers from Tucson and Santa Fe lineup. Hyundai's eco-friendly vehicle sales represented 22% of retail and saw a 95% year-over-year increase.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 1:08 pm

Tesla continues to dominate the US EV market, but the landscape is evolving. Honda is reentering the EV market with the 2024 Honda Prologue, developed with General Motors' Ultium battery platform. However, legacy automakers like GM, Ford, and Stellantis face challenges due to an ongoing UAW strike. Meanwhile, Worksport Ltd is developing a solar-powered tonneau cover and remote battery system that could disrupt the EV market.

Portfolio Pulse from Upwallstreet

October 02, 2023 | 2:32 pm

Hyundai Motor Co., Ltd.(OTC:HYMTF) and Kia Corp have issued recalls for over 3.3 million vehicles in the US due to fire risk. The vehicles' anti-lock brake system module could leak brake fluid internally and cause an electrical short, increasing the risk of an engine compartment fire. Hyundai plans to notify owners to bring their vehicles to the nearest dealership to replace the ABS module fuse, while Kia is still working on a remedy.

Portfolio Pulse from Nabaparna Bhattacharya

September 27, 2023 | 3:04 pm

Hyundai Motor Co and Kia Corp plan to reduce the prices of several electric vehicles (EVs) in response to the South Korean government's decision to expand subsidies for clean vehicles. The price cuts, which will affect models such as the Ioniq 5, Ioniq 6, Kona EV, EV6, Niro EV, and Niro Plus, are set to begin next month and last until the end of 2023. This move could intensify the price competition in the South Korean automotive industry and potentially increase international tension surrounding EV pricing.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 11:39 am

Weekly jobless claims fell to 201,000, below estimates. Cisco Systems is acquiring Splunk for $28 billion, causing a rally in Splunk's stock and a fall in Cisco's. Starbucks announced a 7.5% increase in its quarterly dividend. Keurig Dr Pepper appointed Tim Cofer as COO, effective Nov.6, 2023. Kraft Heinz recalled 83,800 cases of Kraft Singles due to choking hazard. Google is replacing Broadcom with Marvell for AI chips. Nio launched a smartphone to compete in China's EV market. Toshiba is going private after a successful $14 billion tender offer from JIP. Unilever is selling some of its non-core beauty brands. UBS terminated 70% of Credit Suisse's HK research staff. VinFast plans to ship EVs to Europe by end of 2023. Paramount Global and Warner Bros. Discovery stocks rose amid reports of a potential end to the Hollywood writers' strike. Arm Holdings and Instacart stocks declined, raising concerns about tech IPOs. The DOJ limited access to key evidence in its antitrust case against Google. Kia launched its cheapest EV in South Korea. KB Home reported a Q3 sales decline of 13.9% YoY but beat estimates. Darden Restaurants reported Q1 sales growth of 11.6% YoY, beating estimates. FactSet Research reported Q4 sales growth of 7.3% YoY, slightly beating estimates.

Portfolio Pulse from Vandana Singh

September 21, 2023 | 2:02 pm

Kia Corp, owned by Hyundai Motor Company (OTC: HYMTF), has launched its cheapest electric vehicle, the Ray, in South Korea. The vehicle, priced at about $20,000, can seat only one person and is designed for city dwellers. Since its introduction, over 6,000 customers have pre-ordered the car, surpassing Kia's goal of 4,000 vehicles for 2023. The Ray has a 35.2 kilowatt-hour lithium-iron-phosphate (LFP) battery, which is cheaper than nickel-based cells.

Portfolio Pulse from Shivani Kumaresan

September 21, 2023 | 1:54 pm

Georgia Tech and Hyundai Motor Group are collaborating on sustainable mobility. Hyundai is investing approximately $12 billion in electric vehicle (EV) manufacturing and battery production.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 6:21 am

Worksport Ltd (NASDAQ:WKSP)(NASDAQ:WKSPW) has signed a significant long-term supply agreement with a US automotive aftermarket reseller, which is expected to bring in $16 million in annual sales of its hard-folding and soft-folding covers. The company is also working on introducing the SOLIS solar-powered tonneau cover, integrated with its COR remote battery system. Meanwhile, Tesla Inc (NASDAQ:TSLA) is reportedly close to a technological breakthrough in EV making, while Ford Motor (NYSE:F), General Motors (NYSE:GM) and Stellantis N.V. (NYSE:STLA) are struggling with a strike by the United Auto Workers.

Portfolio Pulse from Upwallstreet

September 19, 2023 | 3:58 pm

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