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's IONIQ 5 robotaxi, developed in collaboration with Motional, has passed a simulated driving test, showcasing its autonomous driving capabilities. The test, part of a campaign film, was conducted in Las Vegas and featured a simulation of a U.S. driver's license test. The IONIQ 5 is currently transporting passengers in select areas of Las Vegas via the Uber app, with a vehicle operator present. Meanwhile, Tesla is preparing to unveil its own self-driving robotaxi on August 8, with CEO Elon Musk emphasizing the importance of vehicle autonomy to the company's value.

Portfolio Pulse from Anan Ashraf

April 15, 2024 | 12:16 pm

Kia, a subsidiary of Hyundai Motor (OTC:HYMTF), has launched a cash incentive program for U.S. dealers to clear inventory of 2023 EV models and make room for 2024 models. The 'Kia April 2024 Dealer Flat Cash Program' offers $1,000 for each 2023 EV6 sold, $1,500 for the EV6 GT, and smaller incentives for 2024 models. Despite a slight drop in total vehicle sales, Kia's EV sales in the U.S. have significantly increased, with a notable jump in EV9 and EV6 sales.

Portfolio Pulse from Anan Ashraf

April 15, 2024 | 12:08 pm

Ford Motor (NYSE:F) is delaying the production of an all-electric SUV and pickup truck to focus on hybrids, despite a $4.7 billion loss in its EV business in 2023. The delay allows Ford to leverage developing battery technology and continue construction of battery plants. Ford ranked just behind Tesla (NASDAQ:TSLA) and Hyundai (OTC:HYMTF) in EV sales, with a significant YoY increase in EV and hybrid sales. The strategy reflects a cautious approach to EV production amid high costs and market realities.

Portfolio Pulse from Upwallstreet

April 09, 2024 | 2:00 pm

Hyundai Motor Company (OTC:HYMTF) and Kia Corporation are enhancing their competitiveness in India by signing a memorandum of understanding with Exide Energy Solutions Ltd for localizing EV battery production. This move aligns with Tesla Inc's (NASDAQ:TSLA) interest in India for EV production due to lower labor costs. Hyundai plans to invest $2.40 billion in India, launching six EVs by 2028, while Kia will introduce three EVs, including the made-in-India Carens EV. Hyundai Motor America reported record sales, with a significant increase in EV sales. Hyundai's collaboration with Worksport Ltd (NASDAQ:WKSP) for solar-powered tonneau covers and portable battery systems indicates a commitment to R&D and eco-friendly innovations. The strategic focus on India's booming EV market, where sales are expected to rise by 66% this year, positions Hyundai, Kia, and Exide to capitalize on this growth.

Portfolio Pulse from Upwallstreet

April 08, 2024 | 1:02 pm

Workers at Mercedes Benz Group AG's Alabama factory petitioned for a UAW union election, aiming to file with the NLRB. The UAW claims over 5,000 workers support joining, with a vote expected by early May. Mercedes denies violating Germany's global supply chain law. The UAW's efforts extend to other non-union automakers like Hyundai, Toyota, Tesla, and Rivian, with UAW President Shawn Fain seeking to expand union representation. President Biden supports UAW's efforts. Volkswagen workers in Tennessee also seek a UAW vote.

Portfolio Pulse from Shivani Kumaresan

April 05, 2024 | 4:39 pm

Hyundai Motor's North American unit reported a significant year-on-year jump in electric vehicle (EV) sales for Q1 2024, surpassing Ford and General Motors in the US EV market. The sales boost was primarily driven by the Ioniq and Kona models. Hyundai sold 33,522 all-electric vehicles, with the Kona subcompact SUV being the best-seller, starting at $24,250. In comparison, Ford and General Motors sold 20,223 and 16,425 EVs respectively. Tesla's global sales of Model Y and 3 dropped by 11.5%, while Toyota sold 206,850 electrified vehicles in the US.

Portfolio Pulse from Anan Ashraf

April 05, 2024 | 12:00 pm

Investment analysts have upgraded price targets for six stocks, including four U.S.-listed companies: Shift4 Payments Inc (FOUR), Semtech Corp (SMTC), Formula One Group, and MacroGenics Inc (MGNX), with MacroGenics expected to see an 82% surge due to positive trial data. Despite market volatility, these upgrades suggest potential investment opportunities.

Portfolio Pulse from Benzinga Neuro

April 05, 2024 | 6:15 am

Hyundai Motor and Kia have unveiled DAL-e Delivery, an autonomous delivery robot featuring advanced technologies like autonomous driving and face identification. Designed for complex environments such as offices and malls, DAL-e Delivery can navigate obstacles and narrow passages, reaching speeds of up to 1.2 m/s. It boasts a large cargo capacity and is set to debut in the second quarter at IGIS Asset Management's 'Factorial Seongsu', aiming to transform F&B and parcel delivery services.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:40 am

Hyundai Motor (OTC:HYMTF) introduced a racing car variant of its IONIQ 5 N EV, named the IONIQ 5 N eN1 Cup, ahead of its Hyundai N Festival motorsports event. This race car, designed for professional drivers, features slick tires, a redesigned body kit for better handling and aerodynamics, and customizable fake engine noises. It's lighter due to the removal of non-essential components and emphasizes safety with racing seats and harnesses. The unveiling marks Hyundai's entry into EV racing, with the Hyundai N Festival at Inje Speedium being the debut event for the eN1 class, aiming to position Hyundai as a leader in EV motorsports.

Portfolio Pulse from Anan Ashraf

April 02, 2024 | 12:18 pm

Hyundai Motor Co and Kia Corp are intensifying their electric vehicle (EV) efforts to compete with Tesla Inc, according to Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management. Despite being cheaper, Gerber believes these EVs are not as good as Tesla's offerings. The South Korean government is supporting Hyundai and Kia with new EV policies, while Tesla continues to face challenges, including concerns about a potential production slump.

Portfolio Pulse from Benzinga Neuro

April 02, 2024 | 1:45 am

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