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

Hyundai Motor Co has initiated the construction of a new $1.53 billion electric vehicle (EV) plant in Ulsan, South Korea. The facility is expected to produce 200,000 EVs annually, with full-scale construction starting in Q4 2023 and mass production commencing in Q1 2026. The first model to be produced is anticipated to be a Genesis electric SUV. Hyundai recently reported an 8.7% revenue growth in Q3 FY23 and a 33.3% increase in sales of electrified models.

Portfolio Pulse from Lekha Gupta

November 13, 2023 | 1:50 pm

Ford Motor (F) shares rose 3% as it reached a tentative deal with the UAW, ending a costly strike. General Motors (GM) is expected to follow suit. Stellantis (STLA) plans to buy a 21% stake in Chinese EV maker Leapmotor. Worksport Ltd (WKSP) announced interest from a Canada-based automotive aftermarket reseller for its hard-folding tonneau covers. Hyundai Motor Company (HYMTF) confirmed it will not delay its EV plans and showed optimism for continued growth. Tesla (TSLA) received a $100 million order from BP EV unit for its chargers.

Portfolio Pulse from Upwallstreet

October 26, 2023 | 5:24 pm

Hyundai Motor Company reported a 8.7% YoY revenue growth in Q3 FY23, with an operating profit of KRW 3.82 trillion, a 146.3% YoY increase. Net profit also increased by 134% to KRW 3.3 trillion. Sales of electrified models jumped 33.3% to about 169,000 units. The company expects sales momentum to continue due to improved production status, stronger demand for Hyundai, Genesis-branded models, and lower inventory levels.

Portfolio Pulse from Shivani Kumaresan

October 26, 2023 | 12:26 pm

Chinese EV battery maker CATL is closing in on LG as the world's top EV battery supplier, with its market share increasing significantly. The company powers Tesla and NIO's product lines and expects to triple its profits in Q3. Despite having no international stock market presence, CATL is on track to become the largest global supplier of EV battery parts. The company has seen a 111% jump in battery supplies, mostly to Tesla, Nio, Mercedes-Benz, Volvo, and SAIC Motor Corp. CATL is also in talks with Hyundai and Kia for potential deals.

Portfolio Pulse from Daniel Harrison

October 19, 2023 | 5:46 pm

Hyundai has announced a reduction in lease rates on its IONIQ 5 and IONIQ 6 electric vehicles (EVs), offering some of the lowest rates since their launch. The lease prices of these vehicles are dropping by $50 monthly, starting at approximately $229 per month. This price reduction comes after Tesla Inc. recently lowered its Model 3 lease price by up to $100 to $329 with $5,524 down. Hyundai's electric vehicles have been gaining traction in the U.S. market, with the company setting a September record with EV sales soaring 203%.

Portfolio Pulse from Benzinga Neuro

October 18, 2023 | 9:45 am

The Australian High Court has ruled against the state of Victoria’s taxes on Zero and Low-Emission Vehicles (ZLEVs), stating that only the federal government can impose excise duties. This decision could boost EV adoption in Australia, where EVs represented only 8% of new car sales in September. Tesla, BYD Co Ltd, Hyundai Motor, and Kia are popular EV makers in Australia. The ruling is also expected to deter other Australian states from introducing similar taxes.

Portfolio Pulse from Anan Ashraf

October 18, 2023 | 8:38 am

Kia (OTC:KIMTF) has unveiled three new electric models, including The Kia EV5, The Kia Concept EV3, and The Kia Concept EV4, at the brand's annual Kia EV Day in Korea. The EV5 will be produced in both China and Korea, with three variations available in the Chinese market. Kia also announced plans to develop a wide-ranging EV line-up priced from $30,000 to $80,000.

Portfolio Pulse from Nabaparna Bhattacharya

October 12, 2023 | 3:15 pm

Ford Motor Co (NYSE:F), Hyundai Motor Company (OTC:HYMTF), and another European automotive entity have onboarded Idra, an Italian firm known for crafting aluminum casting machines and being a noted supplier for Tesla Inc (NASDAQ:TSLA). This highlights a growing interest in the use of gigantic casting machines, or 'gigapresses', for the production of substantial single pieces for vehicle underbodies. This technique streamlines the manufacturing process and reduces the workload, even for robots. Idra has dispatched 14 presses to Tesla, two of which are designated for its large Cybertruck production at its Texas facility.

Portfolio Pulse from Shivani Kumaresan

October 11, 2023 | 2:15 pm

Hyundai Motor Co has reduced the asking price for its auto plant in China by 30% to 2.58 billion yuan ($353.38 million). The plant, located in Chongqing, is part of a joint venture with Beijing Automotive Group Co. The sale is part of Hyundai's plan to revise its business strategy in China due to strong price competition and weak demand. The company is selling the plant's land use rights and equipment, which has an annual capacity of 300,000 cars.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 3:32 pm

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

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